HC Deb 31 January 1994 vol 236 cc612-3
30. Mr. Corbyn

To ask the right hon. Member for Selby, representing the Church Commissioners what actions are being taken to safeguard the pensions of Church employees.

Mr. Alison

The commissioners' assets are considerably in excess of pension liabilities relating to service to date of active and retired clergy. Clergy pensions are, of course, non contributory. The Lambeth report made certain recommendations to safeguard, in particular, the provision for liabilities in respect of the future service of existing and future clergy. Those recommendations are being actively pursued.

Mr. Corbyn

Can the right hon. Gentleman give us a guarantee about what the Church Commissioners will do to protect the pensions of those who are employed by the Church at present, because his answer did not do that? Does he accept that the Church Commissioners have gambled away £800 million of their money on inappropriate and daft property speculation, including the Ashford shopping development, which does not even have planning permission, and the Lutterworth development, which is the subject of separate concern? Does not he think that it is time to set up a pension fund so that the pensions of employees and clergy of the Church Commissioners can be guaranteed for the future? Should not the funds be invested ethically, sensibly and suitably, rather than being threatened by property speculation?

Mr. Alison

The hon. Gentleman has used a pejorative term in talking of gambling away the Church Commissioners' assets. I heard no complaints about the gambling away of assets when they increased by £800 million between 1986 and 1989. I have already explained to the hon. Gentleman that the underlying assets are more than sufficient to meet the existing and prospective pension liabilities of clergy who are in post, still active or who have retired. The Lambeth group report, which we are actively pursuing, simply asked us to set up a segregated fund into which contributions could be safely segregated. But there is no underlying threat to prospective or existing pensioners.