Church of England (Pensions) Measure 2003

Document Number:2003 No. 2
 
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A Measure passed by the General Synod of the Church of England to make provision for a General Purposes Fund of the Church of England Pensions Board and to amend the Clergy Pensions Measure 1961 and the Pensions Measure 1977; and for connected purposes.

[6 th March 2003]

1 General Purposes Fund

(1) The Church of England Pensions Board shall continue to administer the General Purposes Fund established by resolution of the Board on 17 th September 1975.

(2) The Board shall pay into the General Purposes Fund any testamentary or other gifts made to the Board—

(a) for the relief of poverty in the case of any retired clerk or church worker;

(b) for the relief of poverty in the case of any widow, widower, former spouse, child or dependant of a deceased clerk or church worker;

(c) for the provision, maintenance or management of homes of residence for retired clerks and church workers and their spouses or former spouses; and

(d) for the provision, maintenance or management of homes of residence for the widows, widowers, former spouses and dependants of deceased clerks or church workers.

(3) The reference to the provision of homes of residence in subsection (2)(c) and (d) above shall include reference to the making of loans under section 26(3 A) of the Clergy Pensions Measure 1961 (1961 No. 3) (“the 1961 Measure”).

(4) Subject to any conditions imposed by the testators or other donors and to section 2(3) and (4) below, the Board may at their discretion apply the Fund or any part thereof for any of the purposes set out in subsection (2) above and may borrow money on the security of the assets of the Fund in order to defray expenditure incurred for any of those purposes.

(5) The purposes set out in subsection (2) above shall replace the purposes for which the Fund was held immediately before the date of the coming into force of this section.

2 Dissolution of Pensions Augmentation Funds

(1) The Clergy Pensions Augmentation Fund, the Clergy (Widows and Dependants) Pensions Augmentation Fund and the Church Workers Pensions Augmentation Fund established or administered, respectively, under sections 19 , 20 and 28 of the 1961 Measure shall be dissolved and any sums held in those Funds on the date of the coming into force of this section shall be transferred to the General Purposes Fund and may, subject to subsections (3) and (4) below, be applied in accordance with section 1(4) above.

(2) Any sums which, whether before or after the coming into force of this...

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