Bishop of St Albans asks about pension funds

The Bishop of St Albans received the following written answer on 14th November 2022:

The Lord Bishop of St Albans asked His Majesty’s Government:

  • what discussions they have had with the Pensions Regulator regarding the use of Liability Driven Investment by pension funds.
  • what assessment they have made of the risk to individuals from the practice of Liability Driven Investment by pension funds.
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Bishop of St Albans speaks about the challenges facing pensioners and low-income workers

The Bishop of St Albans spoke in a debate on financial stability on 3rd November 2022, focusing on the effects of the current financial situation and cost of living crisis on low-income workers and on pensioners:

The Lord Bishop of St Albans: My Lords, we are living in challenging times, with inflation rates at a 40-year high. Turbulence in the financial markets, with higher interest rates and larger mortgage payments, is adversely affecting people in all walks of society. With the wholesale price of energy and gas increasing due to Putin’s appalling and illegal invasion of Ukraine, it is vital that His Majesty’s Government do all they can to protect renters, those with mortgages and, of course, pensioners.

To put a human face to this debate, I thought it might be worth while just quoting one of a number of emails I have received from communities in my diocese this very week. One person emailed me on Friday: “In my role as chair of a food bank, we are having to make decisions around both frightening increases in demand and a growing decline in donations. This summer, we increased our warehouse capacity to handle food for somewhere around 500 food parcels a day. The problem is in-work poverty which is growing substantially. In the past few weeks, we have been approached by a hospital, a large business, schools and a local council about whether they can refer low-paid staff to us.” He went on: “Apparently, employers are not prepared to talk about the problem of in-work poverty, feeling ashamed. They would like to raise wages and want the best staff welfare but can’t because that would move them into a deficit budget.” The human reality of what we are facing is stark. Unfortunately, the mini-Budget of 23 September made a challenging financial climate much worse.

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Bishop of Peterborough presses Government to rectify problem with war widows’ pension payments

On 10th December 2020 the Bishop of Peterborough asked Government when it would make retrospective the ability of war widows to retain pension entitlements if they remarried before the law changed:
The Lord Bishop of Peterborough [V]:  My Lords, David Cameron, under whose premiership the new rules came in, has admitted that the current situation is a mistake and was not intended. It is manifestly unjust and betrays those who have served our country. The ridiculous rule that people could rectify the situation by divorcing and then remarrying undermines the institution of marriage. Does this not make it entirely justifiable to overturn, or at least suspend, the policy to which the Minister refers?

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Social Security (Up-rating of Benefits) Bill: Bishop of St Albans supports amendment on pensioner poverty

On 27th October 2020 the House of Lords considered the Government’s Social Security (Up-rating of Benefits) Bill in Committee. The Bishop of St Albans supported an amendment on reporting impacts on pensioner poverty:
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Social Security (Up-rating of Benefits) Bill – Bishop of St Albans calls for temporary increase in universal credit to be made permanent

On 13th October 2020 the House of Lords considered the Government’s Social Security (Up-rating of Benefits) Bill at its Second Reading. The Bishop of St Albans spoke in the debate:

The Lord Bishop of St Albans [V]: My Lords, I add my words of welcome to the noble Lord, Lord Field of Birkenhead, and the noble Baroness, Lady Stuart of Edgbaston, and look forward to their maiden speeches.

I welcome the Social Security (Up-rating of Benefits) Bill. Pension credits are vital for the welfare of low-income retirees and it is right that measures are taken to support them in this challenging time. However, there is certainly scope for going further.

Accusations relating to intergenerational fairness are not entirely unfounded. While I am for uprating the basic state pension, providing a guaranteed rise of 2.5% at a time when millions have lost income due to the pandemic, I realise that it will raise questions over whether this Government represent the entire country or just those who are older. Continue reading “Social Security (Up-rating of Benefits) Bill – Bishop of St Albans calls for temporary increase in universal credit to be made permanent”

Bishop of Worcester: Government plans to cap public sector payouts will have negative effect on pensions of lower paid

On 23rd September 2020 the House of Lords was asked to approve the Government’s Restriction of Public Sector Exit Payments Regulations 2020. The Bishop of Worcester, Rt Revd John Inge, spoke in the debate, highlighting the negative consequences of the Regulations for the pensions of longstanding and lower paid public sector workers:

The Lord Bishop of Worcester: My Lords, the attempt to address egregiously large public sector exit payments is undoubtedly a good thing and I applaud it. However, to enact regulations without attention being given to unintended consequences for lower-paid staff is surely not. Continue reading “Bishop of Worcester: Government plans to cap public sector payouts will have negative effect on pensions of lower paid”

Church Commissioner questions: church building reopening, weddings, housing, public worship, music, online services, family life, church finances and the Transition Pathway Initiative

On 25th June 20202 the Second Church Estates Commissioner, Andrew Selous MP, answered questions from MPs in the House of Commons, on: church building reopening, weddings, housing, public worship, music, online services, family life, church finances and the Transition Pathway Initiative. A transcript is below:

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Bishop of Peterborough presses Government on war widows’ pensions

On 25th February 2020 Baroness Crawley asked the Government, “further to the announcement by the then Prime Minister on 8 November 2014, what plans they have to reinstate the war widows’ pension for those widows who were required to surrender that pension due to marriage or cohabitation.” The Bishop of Peterborough, Rt Revd Donald Allister, asked a follow up question:

The Lord Bishop of Peterborough: My Lords, does the noble Baroness agree that the scandal of this situation is that it applies only in cases where the incident that caused death occurred between April 1973 and April 2005? Those widowed because of an incident before 1973 or after 2005 do not lose their benefit if they remarry. That is complete nonsense and shameful. Should it not be put right? Furthermore, the noble Baroness has described this payment as a benefit. Can we not describe it instead as compensation? Should not war widows’ pensions be called war widows’ compensation so that widows are not subject to this sort of withdrawal?

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Bishop of Durham asks Government about support for Police widows

Durham040219On 6th February 2019 Rt Revd Paul Butler, Bishop of Durham, received a written answer to a question about Police widows pension entitlements.  

The Lord Bishop of Durham: To ask Her Majesty’s Government, further to the Written Answer by the Minister of State for Policing and the Fire Service on 24 January 2018 (123402), what plans they have, if any, to amend the Police Pensions Regulations 1987 and the Police (Injury Benefit) Regulations 2006 to equalise the support given to the widows of police officers. [HL13065]

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Archbishop of York asks Government about consultation process for new pension regulations

On 15th January 2019 the House of Lords debated a Motion to Approve the Occupational and Personal Pension Schemes (Amendment etc.) (EU Exit) Regulations 2018.  The Archbishop of York, Most Revd John Sentamu, spoke during the debate:

The Archbishop of York: My Lords, I just wanted to ask the Minister: how much consultation was undertaken with industry before the first regulations were produced? Did industry suggest, rightly, that this would cause trouble for the Pensions Regulator and others because it was bigger than just the United Kingdom? Continue reading “Archbishop of York asks Government about consultation process for new pension regulations”

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