PENSIONS HIGHER

Press, Volume CVII, Issue 31498, 12 October 1967, Page 7

PENSIONS HIGHER

Rates For Clergy

Pensions payable to clergy, widows and orphans, from the clergy pension trust fund, will be paid at an increased rate from May 1, IMS, it was decided at the

annual meeting of the Synod of the Diocese of Christ church thia week. The bill, repealing 'regulations for the management of the pension trust fund and enacting new regulations, was adopted and will receive its third reading today. “Pensioners now receive M4O a year after 40 years of service ” said the Rev. W. D. Harding. “How pensioner clergy ate able to live on this I don’t know.” Normally, in .-, business, $lBOO would be paid. Annual rates paid in Auckland were 81000 a year, $l2OO in Wellington, $lO4O in Nelson, and SO7S in Dunedin- The Presbyterian Church paid $950 a year and the Methodist Chureh $740 a year.' “This bill proposes a modest increase from $640 to $BOO a year.” he sald. “We are in a deaperate: condition —s64o now will only: be worth $2OO in 40 ydarer The Rev. J. D. Freud (Addington) said the diocese would have to pay a lump sum Of $lOO,OOO if it wished to bring itself up to the level of other diocese.

“Up to May your pension will be calculated on $2O a year of service, and after May 1 on $24 a year of service.”

Mr Harding said the annuitant would pay 5 per cent of his stipend into the fund, with an equal amount from the diocese as a subsidy.