The Church of England Pensions Board

Clergy characters going about their day

The Church of England Pensions Board

Plan for your tomorrow

It’s easy to focus on today and put tomorrow off until… well tomorrow. Retirement is one of those things that can feel easy to push to the back of your mind.

Each of us is different – with different hopes, aspirations and questions about what the future might hold. We can help you plan for your future, and the earlier you do it, the easier it is.

What steps can I take now to prepare well for later life?

Step 1 - check all your pensions

Did you know that a moderate income in retirement, for those without any housing costs, is about £20,000 a year? A really good first step is to find out the level of income you are on track to receive when you finally stop work.

Start finding out about all your pensions, and add up how much these will pay you. Don't forget any pensions your spouse, civil partner, or life partner might have too. Remember to include your State pension.

Once you have a good idea of the income you might have when you retire, check this against the Retirement Living Standards

It's easy to forget old pensions you might have from a previous job. Find out about any previous pensions you have at www.gov.uk/find-pension-contact-details 

Step 2 - start to save that little bit extra (if you can)

Think of saving into your pension as a long-term savings plan, but with tax relief. Every time you save money into your pension, you get tax back from the government. This tax relief happens every time you save money into your pension, up to a limit. On top of all this, your savings can be ethically invested, so you can feel comfortable that your money is doing good in the world.

It's never too late to start. As they say, every penny counts. You might be surprised how quickly your pension savings can start to build up.

Find out how you can save that little bit extra into your pension by clicking on the Pensions option below, and picking your pension scheme. 

Step 3 - think ahead to where you might live

For some of us who work and serve for the Church, deciding where to live when you retire can be exciting, but also very daunting. Picking the right property is just as important as the area you want to live, as a house is also a home.

Great questions to ask yourself are:

  • What type of property do I want to live in?
  • Will it be my forever home, or am I likely to move later in life?
  • Will I have the resources to afford the property I want, or will I need help?
  • What are the transport links like? Can you easily visit family and friends?
  • Are there shops nearby?
  • Where is the closest Church?  

Try not to leave this too late. Rushing to find a retirement property can add more pressure. The earlier you start looking, the more options you are likely to have.

We can often help Clergy find a house for retirement. If you are within five years of retiring and you are not sure where you will live, we really want to hear from you. Click on the Housing option below to find out how we can help.

Already retired? We can still help you prepare for your future

Will you need future housing support?

Did you know that some of the top reasons people move in retirement are to be closer to better health care, stronger transport links, friendly neighbourhoods and good social scenes, and closer to leisure facilities. 

If you are thinking about moving in retirement, we might be able to help you. Our rental, mortgage, and supported housing schemes could offer you the right opportunity to find your next home.

Not planning on moving just yet? We can help you stay in your home as long as possible. We're here to give advice on the support available to allow someone to live independently and comfortably in their own home.

Click on the Housing option below to find out more.

Do you need welfare support?

If your circumstances change and you feel you need a little extra support, we can try and help you. Together, we can look a wide range of benefits to give your income a little push, grants from charities, and also give advice on care costs.

We're here to help. To find out more and speak to us, click on the Welfare option below.