Church of England considers cutting pension benefits for clergy after equities bet

The Church of England is considering cutting the rate at which members of its current pension scheme for clergy accrues benefits, it was reported today.
03 Nov 2009

The Church is contemplating the move because much of its investment pot was put into equities soon after its creation in 1998, the Financial Times reported on Tuesday.

Shaun Farrell, the chief executive of the Church of England Pensions Board, told the FT that the investment had driven a "huge great hole" in the finances of the scheme. the rest