A dedicated retirement savings scheme for stipendiary Anglican clergy. The New Zealand Anglican Church Pension Fund provides lifelong income in retirement, along with continued support for widows, widowers, and dependents after a member passes away.
The New Zealand Anglican Church Pension Fund was established in 1972 to provide financial security for stipendiary clergy in retirement. Created by the Anglican Church in Aotearoa New Zealand and Polynesia, the Fund recognises the unique service of ordained ministers and offers a reliable and supportive way to plan for life after ministry.
The Pension Fund provides a lifetime pension and lump sum on retirement, with continued support available for widows, widowers, and dependent children after a member’s death. This ongoing care reflects the Church’s commitment to the well-being of those who have dedicated their lives to serving others.
Membership is open to stipendiary Anglican clergy who are nominated and supported by their Diocese or Hui Amorangi. The Fund is professionally managed, with oversight that ensures it remains financially sustainable and aligned with Christian values.
The Pension Fund has two membership categories: the Defined Benefit Scheme (DBS) and the Complying Fund Section (CFS). Since 23 May 2008, new members (except those from the Diocese of Polynesia) have joined as CFS members.
(Definitions of the terms used above and on this page e.g. stipendary clergy, DBS and CFS can be found in the Trust Deed below under forms and documents.)
To be eligible to join the New Zealand Anglican Church Pension Fund, you must be an ordained Anglican clergyperson who holds a Bishop’s Licence or has permission to officiate. You must also be in paid stipendiary ministry within the Church.
You may be working full time, part time, or in a shared ministry arrangement. Entry to the Fund requires nomination and support from your Diocese or Hui Amorangi. If you are unsure whether you meet the criteria, we recommend speaking with your diocesan office or contacting us directly.
The Pension Fund supports eligible clergy in retirement through two key benefits: a lifetime pension and a lump sum payment. These are funded through regular contributions made by both you and your Diocese/Hui Amorangi while you are in paid stipendiary ministry.
You can withdraw this lump sum:
The lump sum is paid in addition to your pension. You have the option of using some or all of your lump sum to increase your pension.
The amount you contribute to the Pension Fund is based on the Standard Stipend, rather than your actual stipend.
For clergy in Aotearoa New Zealand:
For clergy in Polynesia:
These combined contributions build both your pension and lump sum benefits over time.
The investment objective for the Pension Fund as a whole is that net investment returns (i.e. returns after any tax, fees and other expenses) should be sufficient to enable AFC to increase pensions in line with inflation.
The graph below shows the annual returns (after fund charges) for the Pension Fund, over the past 10 years.
Disclaimer:
The Pension Fund aims to invest about 60% in growth assets like shares and alternative investments such as forests, forest land, smart energy, and private equity. The remaining 40% is invested in income assets like fixed interest, mortgages and cash. The goal is for the Pension Fund to earn enough after fees, and other costs, to allow the trustee to increase pensions in line with inflation.
Disclaimer: The asset mix shown above reflects the standard exposures to that asset class, to fulfill its investment objectives. Actual holdings may vary within the specified ranges at any given time.
The Pension Fund has a risk level of 4, on a scale from 1 (low) to 7 (high). The rating reflects how much the value of the fund’s assets goes up and down. A higher risk generally means higher potential returns over time, but more ups and downs along the way.
To help you clarify your own attitude to risk, click the button below, to try our risk calculator.
Disclaimer:
Check out our FAQs or contact our team for help with any specific queries.
When you decide to retire you will need to tell your Bishop, who will then advise us of your retirement date. Usually, the earliest age you can retire from the Fund is 60. However, if you stop work due to ill health or incapacity (and a return to work is unlikely) you may apply to us for an early retirement benefit. We will require medical evidence if you are retiring early due to ill health or incapacity.
When we are notified of your retirement date, we will advise you of your retirement benefits and options.
Your standard retirement benefit is a pension for life and a tax-free lump sum. You also have the options of using some or all of your lump sum to provide a larger pension or cashing up some of your pension to provide a larger lump sum.
If you retire before age 65 then any money in your Locked-in Account (if applicable) cannot be paid out until you reach age 65.
You can get a quote for your prospective retirement benefits by logging into the Login section or by contacting us.
If you cease stipendiary ministry before age 60 then you may receive a lump sum withdrawal benefit. This benefit is the total of your contributions plus interest and a percentage of the Church’s contributions based on your years of membership in the Fund.
Other options include applying to remain in the Fund and making no further contributions (and becoming a Retained Member) or transferring your money to another scheme.
If you die while in active stipendiary ministry, a lump sum is paid. If you are married then the lump sum is paid to your surviving spouse. If you are not married then the lump sum is paid to your estate.
Also if you are married, your surviving spouse will receive a pension until their death, even if they remarry. This pension is 75% of the pension that would have been payable to you had you remained a member until age 65 (your ‘expected pension’).
If you have dependent children, a child allowance is payable for each child aged under 18 and not working. At our discretion, we may continue to pay the allowance beyond the age of 18.
The total of the surviving spouse pension and child allowances cannot be more than your expected pension.
If you are receiving a pension from the Fund when you die, your surviving spouse will receive a pension until their death (if he or she is the same spouse you had when your pension commenced). This pension is 75% of the pension being paid to you at your date of death.
If you have dependent children, a child allowance is payable for each child aged under 18 and not working. At our discretion, we may continue to pay the allowance beyond the age of 18.
The total of the surviving spouse pension and child allowances cannot be more than your pension.
You can access your retirement lump sum benefit once you reach age 65, even if you are still in active stipendiary ministry.
You can access your Locked-in Account (if applicable) before age 65 for limited reasons. If you are in active stipendiary ministry you can apply to withdraw money to help purchase your first home or if you are suffering significant financial hardship. To qualify you must meet the eligibility criteria set out in the KiwiSaver Act 2006.
At any time before you retire, you may apply to us to buy more pensionable service (so as to provide a larger benefit at retirement). The maximum pensionable service is 42 years at age 65. If we approve your application, you can pay for this by additional regular contributions and/or a lump sum contribution.
You can get a quote for the cost of purchasing additional service by logging into the Login section or by contacting us.
Membership of the Pension Fund is only offered to clergy holding a Bishop’s licence or permission to officiate and engaged in stipended, constant and active work with the Church.
All clergy working full-time with the Church must join the Pension Fund.
Clergy who are working on a part-time basis with the Church may elect to join the Pension Fund.
To join you must complete an Application Form, which can be found here.
Before you can be accepted as a member you must receive a Product Disclosure Statement, and you and your Diocese/Hui Amorangi must complete the application form. The completed form is then sent to us.
Here you’ll find all the key forms and documents related to the Pension Fund, including updates, guides, and policies, to help you manage your membership and stay informed.
