THE “perfect storm” facing the Church of England Pensions Board as it seeks to fund retirement housing should be addressed by drawing on the Church Commissioners’ assets, two clergy bodies argued this week. “The Pensions Board should not be seen to be the church body of last resort,” it says. Enabling clergy to make their own choices should not be seen to be an abdication of others’ responsibility.”AdvertisementUntil 2010, funding for the Pensions Board’s retirement housing was loaned from the Church Commissioners. In the private-rental market, there is “little hope of securing an assured lifetime tenancy — which the Pensions Board provides”, it warns. The Pensions Board says that, currently, one in six of the retiring clergy needs help with retirement housing, but the joint response suggests a figure of between 20 and 25 per cent.

Source: The Times January 31, 2024 17:17 UTC