Financial Times FT.com

Money and morals

Clergy face up to fall in earthly rewards

By Norma Cohen

Published: November 2 2009 22:43 | Last updated: November 2 2009 22:43

Some clergy on the receiving end of the Church of England’s pensions consultation document are sanguine about its effect.

Charles Trefusis, vicar of Christ Church in Purley, south London, said: “You go into the ministry not to be a millionaire; you are going into service.” He acknowledged the Church of England’s dilemma in meeting its financial commitments: “I want the church to be able to continue its mission.”

A priest facing the altar

Wing and a prayer: the Church's pension scheme unusually put all of its investment eggs into one basket – equities

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