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C of E could help pensioners find housing cash, says group
by Bill Bowder
THE Retirement Housing Review, set up by the Archbishops’ Council a year ago, acknowledges widespread concern among the Church of England’s clergy about the impact of rising house prices when they retire, but does not recommend an end to tied housing. Most of the stipendiary clergy live in tied accommodation. It has been argued that ending this arrangement would free some of the Church’s investments in property for use to enable the parish clergy to find their own accommodation. But the group suggests that, even if this were possible, such a sale would not increase stipends enough to enable the clergy to buy their own homes. Retired clergy have complained that they face an uncertain future since the General Synod’s decision last year to hold pension increases at the level of the current RPI so long as it does not exceed 3.5 per cent. The Retirement Housing Review was set up in response to “widespread concern . . . about the impact of rising house prices on the clergy’s ability to house themselves in retirement during recent consultations over the future of the clergy pension scheme”, says a consultation document summarising the review group’s findings. “A blanket alternative to tied housing for parish clergy was found to be undesirable in ministry terms and impractical, not least because tied housing underpins the Church’s commitment to maintaining the presence of its clergy within their parishes.” But some of the clergy should be allowed to opt out of tied housing in return for a housing allowance, the group recommends. It has also rejected the idea of working with housing associations, building retirement homes on church land, running a corporate buy-to-let scheme, or transferring clergy housing into a trust in which members of the clergy could acquire equity. Instead, the report suggests cheap loans to help serving clergy find the deposit for their own house, and tax-efficient savings within a pension plan. It also proposes that clergy seek help to manage their money better by signing up to a new Open University scheme. It says that the Church of England’s CHARM scheme, which provides funding for retirement housing, could be more targeted at those most in need, refinanced, and developed into a shared ownership scheme.The report goes to bishops’ councils for discussion. Responses are due by July, with a view to drawing together a second report with firm proposals in November. The full report is available at www.cofe.anglican.org. |
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