THE CHURCH OF ENGLAND PENSIONS BOARD
Provides the best possible support and care, within available resources, to those who have retired from stipendiary and lay ministry within the Church of England, and to their dependants, through the provision of retirement and supported housing, and through discretionary grants to ensure beneficiaries have a minimum income standard.
Financial health, per its FY2025 accounts
The accounts state that the charity holds free reserves in the region of £30m - £35m, which the trustees regard as appropriate to provide considerable cover in the case of a one-off significant financial stress event. The charity's total funds stood at £152.4m at the end of the year, with unrestricted funds representing expenditure recovered from pension schemes rather than retained reserves.
What the accounts disclose
“The annual salary for the highest paid member of staff was £276,000 (2024: £267,000)”
“The Board holds free reserves in the region of £30m - £35m, allowing it to generate annual investment income of around £1.5m whilst taking an investment approach which aims to preserve capital value. This level of reserve is regarded appropriate to give considerable cover in the case of a one-off significant financial stress event.” — page 27
“The Board paid £3,859,291 to CHARM Finance PLC in 2025 in respect of bond interest paid by the Company (2024: £3,560,286). At the balance sheet date, the Board owed CHARM Finance PLC £99,453,000 (2024: £99,425,000) in respect of loans repayable in relation to the 2015 and 2018 bonds, and CHARM Finance PLC owed the Board £47,325 (2024: £41,494) in respect of interest repayable.” — page 68
“The Board received £366,000 from CEPB Mortgages (2024: £365,000) in respect of mortgage interest received by the Company. At the balance sheet date, CEPB Mortgages owed the Board £4,775,000 (2024: £4,868,000) in respect of mortgage loans repayable.” — page 68
“The Board paid £3,859,291 to CHARM Finance PLC in 2025 in respect of bond interest paid by the Company (2024: £3,560,286). At the balance sheet date, the Board owed CHARM Finance PLC £99,453,000 (2024: £99,425,000) in respect of loans repayable in relation to the 2015 and 2018 bonds, and CHARM Finance PLC owed the Board £47,325 (2024: £41,494) in respect of interest repayable.” — page 68
“The Board received £366,000 from CEPB Mortgages (2024: £365,000) in respect of mortgage interest received by the Company. At the balance sheet date, CEPB Mortgages owed the Board £4,775,000 (2024: £4,868,000) in respect of mortgage loans repayable.” — page 68
“The Board paid £3,859,291 to CHARM Finance PLC in 2025 in respect of bond interest paid by the Company (2024: £3,560,286). At the balance sheet date, the Board owed CHARM Finance PLC £99,453,000 (2024: £99,425,000) in respect of loans repayable in relation to the 2015 and 2018 bonds, and CHARM Finance PLC owed the Board £47,325 (2024: £41,494) in respect of interest repayable.” — page 68
“The Board received £366,000 from CEPB Mortgages (2024: £365,000) in respect of mortgage interest received by the Company. At the balance sheet date, CEPB Mortgages owed the Board £4,775,000 (2024: £4,868,000) in respect of mortgage loans repayable.” — page 68
What the charity says about itself (2025)
“Further, member services were upgraded, including a new website, and some 72,000 pension processes were completed.”
“Secured £95m of national Church funding towards Church retirement housing and new financial wellbeing services.”
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/12/2025)
Trustees
- HAROLD CLIVE MATHERchair
- ANTHONY NEIL KING
- Hannah Gore-Randall
- Ian Wilson
- Michaela Southworth
- Nikesh Patel
- Rev Caroline Titley
- Rev Eleanor Robertshaw
- Rev Trudie Anne Wigley
- Sandra Shadrack
- Victoria Paramour
- Wendy Davis
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £42.0m | £43.3m |
| 31/12/2024 | £63.7m | £41.2m |
| 31/12/2023 | £43.6m | £38.5m |
| 31/12/2022 | £31.7m | £34.9m |
| 31/12/2021 | £29.1m | £30.2m |
Common questions
Is THE CHURCH OF ENGLAND PENSIONS BOARD financially healthy?
Per its FY2025 accounts: The accounts state that the charity holds free reserves in the region of £30m - £35m, which the trustees regard as appropriate to provide considerable cover in the case of a one-off significant financial stress event. The charity's total funds stood at £152.4m at the end of the year, with unrestricted funds representing expenditure recovered from pension schemes rather than retained reserves. Its FY2025 accounts were audited by Crowe U.K. LLP.
What does the highest-paid employee of THE CHURCH OF ENGLAND PENSIONS BOARD earn?
Per its FY2025 accounts, the highest-paid employee was in the £276,000 band.
Who funds THE CHURCH OF ENGLAND PENSIONS BOARD?
Funders whose own accounts filings name THE CHURCH OF ENGLAND PENSIONS BOARD as a grant recipient include THE ARCHBISHOPS' COUNCIL, THE HOME OF DEVENISH, MRS R P TINDALL'S CHARITABLE TRUST, SIR JOHN PRIESTMAN CHARITY TRUST, THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER WEST HARROW.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| THE ARCHBISHOPS' COUNCIL | FY2023 | £14.8m | Clergy retirement housing |
| THE ARCHBISHOPS' COUNCIL | FY2025 | £6.4m | Grants for clergy retirement housing (CHARM) |
| THE HOME OF DEVENISH | FY2025 | £50k | |
| THE HOME OF DEVENISH | FY2024 | £30k | |
| THE HOME OF DEVENISH | FY2022 | £28k | |
| THE HOME OF DEVENISH | FY2023 | £28k | |
| MRS R P TINDALL'S CHARITABLE TRUST | FY2021 | £18k | Christian Church |
| SIR JOHN PRIESTMAN CHARITY TRUST | FY2021 | £3k | Section 2 2 Relief and Main n /Church Offi eir families |
| SIR JOHN PRIESTMAN CHARITY TRUST | FY2022 | £3k | Section 2 h Relief and Maintenance of Clergy/Church Officials and their families |
| SIR JOHN PRIESTMAN CHARITY TRUST | FY2024 | £3k | Section 2(g) (2) |
| THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER WEST HARROW | FY2021 | £2k | Pension contributions for clergy |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION | 1 | £1.2m |
| THE LAMBETH TRUST | 1 | £498k |
| THE TUFTON CHARITABLE TRUST | 1 | £44k |
| TOGETHER FOR CHANGE COVENTRY AND WARWICKSHIRE | 1 | £30k |
Charities like this
- WORCESTER DIOCESAN BOARD OF FINANCE LIMITED
- THE CHESTER DIOCESAN BOARD OF FINANCE
- CHURCH COMMISSIONERS FOR ENGLAND
- THE COVENTRY DIOCESAN BOARD OF FINANCE LTD
- HYTHE UNITED REFORMED CHURCH CHARITY
- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST PETER, LECKHAMPTON
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE CHURCH OF ENGLAND PENSIONS BOARD | £42.0m | £276,000 | — | unclear | — | no doubt |
| WORCESTER DIOCESAN BOARD OF FINANCE LIMITED | £10.6m | above £60,000 | 3 | above | — | no doubt |
| THE CHESTER DIOCESAN BOARD OF FINANCE | £15.0m | — | — | unclear | — | no doubt |
| CHURCH COMMISSIONERS FOR ENGLAND | £207.4m | — | — | unclear | — | no doubt |
| THE COVENTRY DIOCESAN BOARD OF FINANCE LTD | £11.0m | — | — | below | — | no doubt |
| HYTHE UNITED REFORMED CHURCH CHARITY | £131k | — | 0 | unclear | — | noted |