Church of England: Pension Board statement on retiree pensions


Mr Nigel Lea-Wilson (Liverpool) to ask the Chair of the Pensions Board:

Q163 What is the level of episcopal pension and what are the criteria for qualification in terms of years of service in office, and how do these both compare with other clergy?

Mr Clive Mather to reply as Chair of the Pensions Board:

A Under the Rules of the Church of England Funded Pension Scheme, the benefits payable at retirement are determined by the pensionable service of the member, when that service was completed, and the National Minimum Stipend in the preceding year to retirement. Currently the pension payable to a stipendiary member of the scheme is £12,632pa from age 68, assuming the maximum pensionable full-time service of 41.5 years. The scheme also provides a lump sum of £37,896. The holders of certain offices receive a pension based on the multiple of the pension above, but not a multiple of the lump sum. The multiples are set out below:

Archbishops of Canterbury and York 2

Bishop of London 1.8

Other diocesan bishops 1.5

Suffragan bishops, deans, provosts and archdeacons 1.25

The Rules of the Scheme, which include the benefits payable, are made by the General Synod, not by the Pensions Board.