The income of the Church of Ireland has fallen by 25 per cent in the past year and the Church is facing a growing pension fund deficit, the general synod will hear this week.Total income is down from €8.1 million in 20 08 to €6.2 million last year.
The synod’s 660m embers, who will meet in Christchurch Cathedral in Dublin from Thursday to Saturday, will be told that the Church’s operating deficit now stands at €751,000.
Cost-cutting programmes which began last year will have to continue, including a staff pay freeze and cuts in the operating costs of Church House and central committees and boards.
Clergy stipends will also be frozen for 2010, and there will be proposals to change the clergy pension scheme to restore the solvency of the fund by 2019.
At present, it has an actuarial deficit of €43 million. The fund’s actuary has written to the trustee to say he is not satisfied that current proposals are on track to meet minimum funding standards by the end of September 2011.
As a result, the Representative Church Body, chaired by Primate Archbishop Alan Harper, will propose to the general synod that it should make capital injections of at least €5 million a year to the fund until 2014.
Annual pension contribution rates for members, parishes and synods would increase from 26 per cent to 30 per cent of the pensionable stipend next January, and to 34 per cent in 2015.
Other issues which are likely to generate debate at the general synod will include the control of Church of Ireland schools in the North, a report on end-of-life issues and a bill of rights for the North.
SIC: SBP