The Church of England is considering reforming the pension scheme of its clergy. The move is an element of a wider effort by the Church to enhance clergy wellbeing by improving the stipend to meet up with the consequences of inflation.
Under the pension plans being considered, the Church will restore the goal pension level to two-thirds of pensionable stipend. The proposal also includes a rise to pensions which have come into payment since 2011.
The proposals come from an evaluation by the Church of England Pensions Board and can be considered on the General Synod. Should the plan be accepted, it might be implemented from April next 12 months.
Put simply, the proposals mean that after 40 years of service, clergy within the Church of England can expect a pension value £20,000 every year in today’s money. Combined with a full state pension, their annual income would likely be over £32,000 per 12 months.
As well as improving pensions and the stipend, the Church can also be ways to assist clergy find retirement housing or to get onto the housing ladder in any respect. Further details on these plans are expected in the approaching weeks.
The Rev Dr Ian Paul, a member of Archbishops’ Council said, “This is improbable news, which I hope can be of great encouragement to all serving and retired clergy.”
Another member of the Archbishops’ Council, Dr Miranda Threlfall-Holmes, noted, “This set of proposals will come as an enormous relief to clergy and pensioners.
“Nobody is in ministry for the pay, however the covenant the Church makes with clergy is that they ought to be freed by the stipend from financial stress.
“In recent years this covenant has been straining on the seams, and hundreds of clergy have been asking for the restoration of the historic two-thirds pension, which this package now effectively provides.
“I hope they feel heard today, and I pray that Synod will approve these proposals whole-heartedly in July, in order that we are able to begin to extend pensions already in payment as soon as is feasible.”
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