Monday 2 July 16:45
Pension Reserve Fund
36/1. The Conference directs that no further payments be made from the Pension Reserve Fund to the Methodist Ministers’ Pension Scheme until further notice.
36/2. The Conference re-states unequivocally that the Pension Reserve Fund exists to support both the Methodist Ministers’ Pension Scheme (MMPS) and the Pension and Assurance Scheme for Lay Employees of the Methodist Church (PASLEMC) as the need arises, that they will be given equal consideration as the need arises and as permitted by charity law or the Charity Commission, and that no change will be made to either the use of the fund or the way in which income from the Connexional Priority Fund levy is calculated without first being satisfied that appropriate consultation has been undertaken with both Trustee Boards.
36/3. The Conference delegates to the Methodist Council authority to utilise the Pension Reserve Fund as part of the recovery plan arising from the 2017 valuation of the Pension and Assurance Scheme for Lay Employees of the Methodist Church.
36/4. The Conference directs that the Pension Reserve Fund shall cover the past service liabilities and any further deficit arising from increasing future service contribution rates for the period 1 September 2017 to 31 August 2019 of all participating employers as permitted by charity law or the Charity Commission within the Pension and Assurance Scheme for Lay Employees of the Methodist Church.