To be eligible to join the Pension Fund you must be an Anglican clergyperson holding a Bishop’s Licence or permission to officiate, and be in paid work with the Church. You can be working on a full-time or part-time basis, or in a shared ministry.

Before you can be accepted as a member you must receive a Product Disclosure Statement (PDS) and you and your Church organisation must complete an “Agreement to become a Member” form (found at the back of the PDS). The completed form is then sent to us.

The PDS can be obtained from your Diocese, Hui Amorangi or Church employer.

Aotearoa New Zealand clergy

The contribution amount is not based on the actual stipend paid to you. All members contribute based on the Standard Stipend.

If you are in full-time stipendiary ministry then you contribute 6% of the Standard Stipend.

If you are not in fulltime stipendiary ministry then you can choose to contribute 6% of the Standard Stipend or 6% of 75% of the Standard Stipend or 6% of 50% of the Standard Stipend.

Your Church organisation contributes 150% of your contribution amount. From this amount, tax is deducted.

Polynesia clergy

You contribute 5.5% of your total stipend plus taxable allowances (other than housing allowance) and 0.4583% of your housing allowance (if you receive such an allowance).

The Diocese of Polynesia contributes 150% of your contribution amount.

When you have decided 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 CFS Locked-in Account 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.

In Service

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.

In Retirement

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.

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 make no further contributions (and become a Retained Member) or transferring your money to another scheme.

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 CFS Locked-in Account 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.