The Church Pension Fund Clergy Pension Plan is a defined benefit plan:
- Retirement benefits are determined when the cleric retires.
- Benefits are based on years of Credited Service and the Highest Average Compensation.
- Benefits are assured throughout retirement.
- Clergy have options about when they wish to retire.
- All contributions are made by the employer.
- Clergy can contribute to the Retirement Savings Plan (RSVP) in order to increase their retirement income.
- Calculated based on the clergy member's years of Credited Service and Highest Average Compensation.
- Active clergy receive:
- Retired clergy receive:
1Certain eligibility rules must be met.