Church of England (Pensions) Measure 2003

2 Dissolution of Pensions Augmentation Funds

(1) The Clergy Pensions Augmentation Fund, the Clergy (Widows and Dependants) Pensions Augmentation Fund and the Church Workers Pensions Augmentation Fund established or administered, respectively, under sections 19, 20 and 28 of the 1961 Measure shall be dissolved and any sums held in those Funds on the date of the coming into force of this section shall be transferred to the General Purposes Fund and may, subject to subsections (3) and (4) below, be applied in accordance with section 1(4) above.

(2) Any sums which, whether before or after the coming into force of this section, purport or have purported to be donated by a testator or other donor to the Clergy Pensions Augmentation Fund, the Clergy (Widows and Dependants) Pensions Augmentation Fund or the Church Workers Pensions Augmentation Fund shall be deemed instead to be donated to the General Purposes Fund and may be applied in accordance with section 1(4) above.

(3) The Board shall pay into a separate account of the General Purposes Fund any sums received from a diocese for the relief of poverty in the case of any widow, widower, former spouse or dependant of a deceased clerk (including sums received under section 20(2) of the 1961 Measure) and the Board shall hold any such sums on behalf of the diocese by whom they were paid, and shall add to those sums interest, at such rate as the Board may from time to time determine, on any amount held by the Board for the diocese under this subsection for a calendar year.

(4) The Board shall pay out of the account referred to in subsection (3) above any payments required to be made by them for the purposes mentioned in that subsection by a diocese, not exceeding in aggregate the total of the sums paid to them by that diocese together with any interest payable thereon under that subsection.

(5) In section 4(4) of the Clergy Pensions (Amendment) Measure 1967, for the words “section 26(4) and section 28 of the principal Measure” there shall be substituted the words “section 1(4) of the Church of England (Pensions) Measure 2003.”