Day 1
Bill Dealing with Clergy Pensions Presented at General Synod
A Bill to allow for the revaluation of preserved pension benefits relating to deferred members of the Clergy Pensions Fund passed its first and second stages at General Synod in Limerick this afternoon (Thursday May 4). The Bill was presented at the request of the Representative Church Body and proposed by Mr Geoffrey Perrin and seconded by the Bishop of Clogher.
Under Section 33 of the Pensions Act 1990, defined benefit pension schemes in the Republic of Ireland are required annually to revalue the preserved benefits of deferred members by the rate prescribed annually by the Minister for Social Protection. To do this it is necessary to amend Chapter XIV of the Constitution of the Church of Ireland.
Proposing the Bill Mr Perrin explained that there were 54 deferred members of the Clergy Pensions Fund who had preserved benefits under the CPF relating to service in the Republic of Ireland.
The Bill will receive its third reading on Saturday morning.