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General Assembly 2008: Kirk's Pension Trustees deliver their report to General Assembly

The Church of Scotland's Pension Trustees are set to report to the Kirk's annual General Assembly (15 - 21 May).

The Trustees are accountable for the administration and investments of defined pension schemes within the Church - schemes which look after the benefits of around 5500 members and have assets in excess of £300 million.

The Assembly will hear that the triennial valuations of the pension schemes have now been largely completed with modest deficits being apparent. Remedial action is in hand with the relevant employing bodies.

Despite these deficits, discretionary pension increases were granted by the trustees to those in receipt of pension in the Ministers' Scheme and the Staff Scheme except for those members who were employees of CrossReach where no discretionary increases were granted. In the case of the third scheme - The Church of Scotland Pension Scheme for the Board of National Mission - the pension increases are written into the scheme rules.

Ends

Note to Editors:

A full copy of the report is available on our General Assembly pages online here.

GANR/25/04/08

Tuesday 13, May 2008

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