The Clergy Pension Plan offers options that allow you to retire when retirement fits into your life plans. The monthly benefit is calculated differently for each of the retirement options and choosing an option such as early retirement will impact the amount you will receive as your monthly pension benefit during your lifetime. In addition, your choice will impact the monthly benefit paid to a surviving spouse or beneficiary.
The available retirement options are:
|65||At least 5 years|
|60+||At least 5 years|
|30-Year Early Retirement
|72||At least 5 years|
Minimum Pension Benefit
The Clergy Pension Plan provides a minimum pension benefit based on Credited Service (CS). When your pension benefit is calculated, the minimum benefit will also be calculated, and the Plan Administrator will determine if you will be paid the minimum. A minimum pension benefit may also be available to your eligible surviving spouse.
You are eligible for the minimum pension benefit if:
- You have served at least 80% of your ministry in domestic dioceses of the Episcopal Church
- You are not participating in a companion plan administered by CPF
- You were compensated during your ministry and assessments were paid in full on your compensation
A minimum pension benefit is available to eligible surviving spouses.
For more information, please see the Guide to Benefits Under the Clergy Pension Plan.
Working While Pensioned
The Clergy Pension Plan provides options for clergy who would like to continue to serve the Episcopal Church after retirement. See Working While Pensioned for more information.