§ Mr. Ben ChapmanTo ask the hon. Member for Middlesbrough, representing the Church Commissioners, if he will make a statement on the criteria that determine the way in which pensions are paid to the Church of England clergy. [153832]
§ Mr. Stuart BellOn retirement at or after age 65 with 37 or more years' full-time service, the pension benefits for clergy consist of a pension of two thirds the previous year's National Minimum Stipend plus a tax free lump sum of three times that amount. Pensions may be drawn any time after age 55 subject to appropriate actuarial discounts.
The benefit formula reflects best practice in occupational schemes. It recognises that clergy receive a State pension and as housing is provided while clergy are working, also recognises that clergy in retirement need to meet the cost of housing. Discretionary help is available through the housing loan and rental schemes administered by the Church of England Pensions Board.
707WMy hon. Friend will already be aware that the Archbishops' Council is currently undertaking a review of the clergy remuneration package, including pensions. If he would like more information and will let me have details I will gladly inquire further on his behalf.