THURSDAY'S NEWS

Clergy pensions fund contributions to rise

A bill seeking to ensure the future solvency of the Clergy Pensions Fund by raising contributions to the Fund was passed today.

The recent actuarial valuation of the Clergy Pensions Fund found a funding gap and the Synod heard on Tuesday that government legislation, as well as the Church’s own interest in maintaining the Fund in a healthy state, made it imperative to act to correct the shortfall. The RCB and Church of Ireland Pensions Board both gave their support to the proposal approved on its third reading today, which will raise the contribution rate by the necessary total of 3.1%, split proportionally between the parish/diocese, members of the clergy and the RCB.

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