€45m hole in Church of Ireland pension fund; G8 event: Campaign in Belfast on June 15; Annual Clogher GFS Diocesan Service; Rural Dean of West Cork; Church launches suicide prevention campaign
€45m hole in Church of Ireland pension fund
Irish Times – In the eyes of their members, defined-benefit pension schemes are usually divine. But for the clergy of the Church of Ireland, faith in their retirement fund to provide is being tested by a €45 million deficit.
A report to members of the Church of Ireland General Synod, to be held in Armagh in May, recommends that the synod votes to close the clergy pensions fund and replace it with a defined-contribution scheme.
Estimate
Actuaries have estimated that the assets of the fund are sufficient to cover only three-quarters of the liabilities, after the interest rates paid on the bond investments by the fund were less than glorious.
The report gives its blessing to the establishment of a defined-contribution scheme, which would mean each clergy member would see their retirement plan exposed to the whims of the omnipotent stock market. It implies this would not be as financially perilous as “the risks inherent in a defined-benefit fund, where such a fund could become actually insolvent, or technically insolvent”.
Contribution to the new scheme will be by both the clergy member and the parish or diocese.
“It is not possible to guarantee the level of pension which can be secured from the funds that will be accumulated in each individual’s defined-contribution account,” the Representative Church Body’s report warns, though it adds that the level of contributions suggested “could be expected to generate an equitable pension in retirement”.
The body has proposed “a series of initiatives” to secure and protect the benefits accrued by members of the clergy pensions fund to date.
The church’s scheme is not alone in its travails. Eight out of 10 defined-benefit pension schemes are now insolvent.
G8 event: Campaign in Belfast on June 15
Join Christian Aid and thousands of IF campaigners in Belfast on Saturday 15 June for an amazing day of campaigning ahead of the G8 summit.
This summer the G8 world leaders are meeting in Northern Ireland. Come and influence some of the world’s most powerful politicians and demand that they take action to tackle the root causes of global hunger.
Throughout March Christian Aid supporters in Northern Ireland joined supporters from other aid agencies to lobby their MPs ahead of the UK budget. Lobby events took place in East Antrim, North Antrim, North Down, North Belfast and East Belfast, including Christian Aid Ireland’s CEO, Rosamond Bennett meeting with her MP Sammy Wilson in East Antrim.
Students at the Presbyterian Chaplaincy café at Queen’s University Belfast took part in a day of campaigning and wrote over 80 hand-written letters to George Osborne calling on the UK government to meet promises on overseas aid and to tackle tax dodging.
The pressure worked and George Osborne announced on 20th March that the UK will become the first G8 country to meet the 40 year old promise of spending 0.7% of Gross National Income on overseas aid.
Annual Clogher GFS Diocesan Service
A large congregation attended the Annual Girls’ Friendly Society Diocesan Service and Prize-giving Service in Holy Trinity Dromore on Friday 26 April 2013.
The Rector, Rev James Boyd welcomed leaders and members from Aghavea, Colebrooke & Cooneen, Donacavey, Fivemiletown, Inishmacsaint and Magheracross and GFS Banners were presented during the singing of the first hymn. Dromore GFS members sang two pieces entitled ‘Faith as small as a mustard seed’ and ‘It’s an adventure following Jesus’ and lessons were read by Olivia Farrell and Alex Patterson from the Dromore Branch.
Rev Boyd gave an interesting talk about habits and the power of the Cross in breaking bad habits and forming good habits as we live for Jesus.
The GFS Diocesan President Mrs Eileen Cutler led the renewal of promises and the prayers were led by Rev Isobel Nixon, GFS Chaplain. Mrs Barbara Clarke, Diocesan Secretary, and Mrs Eileen Cutler assisted Rev Boyd in presenting certificates and awards for Diocesan competitions for Bible Study, Cookery and Handcraft.
The Offering for Clogher Diocese GFS was collected by Dromore members Louise Edgar, Felicity Farrell, Sarah Mills and Kaitlin Gilliland and missionary money was presented by representatives from each Branch.
Rural Dean of West Cork
The Bishop, Rt. Rev. Paul Colton, has announced his appointment of the Reverend Trevor Lester, Rector of Kilmoe Union (Schull, Altar and Crookhaven), as the Rural Dean of West Cork.
Church launches suicide prevention campaign
BBC News – The Catholic bishop of Raphoe has launched a campaign to fight combat suicide in the diocese.
Bishop Philip Boyce has introduced a suicide prevention card as part of the campaign.
Thousands of the cards, which include phone numbers for practical help, will be distributed to schools and at Masses.
Dr Boyce said he wanted the public to know that the issue of suicide was very much in the minds of the church.
Speaking after the launch, Fr Eamonn McLaughlin told Donegal Daily that the church now realises it must act.
“Suicide in Donegal and in Ireland has been described as an epidemic and that’s not an unfair comment,” he said.
On Sunday a special Mass will be celebrated at St Eunan’s Cathedral at noon.
The homily will deal with the issue of suicide and the offertory gifts will be brought to the altar by people directly touched by suicide.
Fr McLaughlin added that as well as offering a practical help to those considering suicide, the church wanted to help on a spiritual basis.
“The suicide prevention card contains a picture of Jesus embracing a person. We want people to know that no matter