My membership
Joining is easy, your employer will enroll you, providing you meet a few criteria.
We set you up with your own pension. Your pension builds up each month, and will be ready to take when you are.
How I become a member
Church Pension launched in April 2027, replacing several of our previous pension schemes.
Employers joined in stages throughout 2027 and 2028, so you might have become a member when your employer switched over.
If you recently started a new role, you will usually be enrolled automatically from the first day you start employment, or within three months, provided:
- you are aged between 22 and State Pension Age, and
- your salary is above the ‘earnings trigger’ - this is set by the Government and is reviewed every year.
This process is called ‘auto-enrolment’.
Even if you do not meet these criteria, your employer may still choose to enrol you. If you are unsure, it is always worth checking with them.
Opting out
Joining the pension is not compulsory, you can choose to opt out. However, it is important to understand what you will be giving up.
If you opt out:
- your employer will stop paying into your pension
- you will lose valuable benefits, including life cover
To opt out, you need to contact us directly to request an ‘opt-out notice’. We cannot send this form to your employer, this is to protect you from being pressured into leaving the scheme.
Keep in mind that under auto-enrolment rules, your employer may re-enrol you in the future. If this happens, you can choose to opt out again.
Opting back in
If you change your mind, it is easy to rejoin the scheme.
Simply ask your employer for an ‘opt-in notice’, and they will arrange for your membership to restart. If you leave and later return, your pension will pick up again.
How my pension works
Every month, your pension contributions buy you an amount of pension income for your retirement. The more you contribute, the more pension income you build up.
You can either take this pension when you retire or move it to another pension provider.
To figure out how much pension your contributions buy, we use a system of 'conversion factors'.
The amount of pension you get depends on your age at the start of the year - older people generally get slightly less pension per £100 because it is expected to be invested for less time. Here is an example of what £100 might buy at a range of ages.
These factors change each month based on financial conditions.
Life cover
By joining Church Pension, you also receive life cover of 4x your salary.
It's important to let us know who you would like this to go to. You can add your nominees on PensionsOnline.
How much might my pension be?
Church Pension is designed to help your pension grow over time—providing you with an income for life that aims to keep pace with the cost of living.
Because of how the scheme works, there isn’t a fixed or guaranteed amount. Instead, the pension you build up depends on several factors:
- how much is paid into your pension
- the conversion factors used to turn your contributions into pension income
- any adjustments made over time (linked to investment performance)
- when you choose to take your pension
What does this mean for you?
Your pension is reviewed and adjusted every year. This means its value can go up or down, both before and after you start taking it.
While this makes it harder to predict exactly what you will receive, it also means your pension has the potential to grow over time.
Keeping you informed
Although we can’t say exactly what your final pension will be, we will keep you updated along the way.
Each year, you will receive an annual statement in PensionsOnline showing:
- how much pension you’ve built up so far, and
- an estimate of what your pension could be at retirement
This helps you stay on track and plan ahead with confidence.
Transferring other pensions
You can transfer other pensions into Church Pension.
If you have multiple pensions with the Church or from other employment, you can leave them where they are, or combine them into one.
If you would like to move other pensions into Church Pension, let us know and we can help you through the process.
How a transfer in works
If you move other pensions to us, your old pension provider will send us a cash amount which reflects the value of your pension.
As soon as we receive the money, we will convert this into an amount of Church Pension, using the same system of conversion factors above. We will also add a Market Adjustment Factor to account for financial conditions at the time we receive the money. We'll let you know what this is before you go ahead.
Before you go ahead and transfer, have a think whether consolidation is right for you. Here’s a breakdown of the potential pros and cons to help you decide.
Benefits of combining pensions
Simplified management Keeping track of one or two pensions is much easier than juggling multiple pots with different providers.
Lower fees Some pension providers charge high management fees, so consolidating into a lower cost pension can save money over time.
Better investment options Moving funds to a provider with stronger investment choices, such as responsible or tailored investments may help your pension grow more effectively, or better match your responsible investment preferences.
Your Church Pension is responsibly invested in line with Church of England ethics.
Improved visibility Having all your retirement savings in one place makes it easier to see your total pension value and plan ahead.
Potential drawbacks of consolidating pensions
Exit fees Some pension providers charge an exit fee when you transfer out, which could reduce the benefits of consolidating. These fees may be a flat fee (fixed amount) or a percentage of your pension.
Loss of guaranteed benefits Some older pensions, particularly Defined Benefit (DB) schemes, offer guarantees or perks (such as annuity rates or bonuses) that may be lost if transferred. Check this before going any further.
Market risks during transfer Your funds might be out of the market temporarily, meaning you could miss potential gains if investments rise in value during the process.
How do you decide?
There’s no universal answer, it depends entirely on your financial situation and retirement plans. Here are a few key considerations.
Managing fewer pensions is often easier and gives you a clearer picture of your retirement savings.
Having multiple pensions can provide flexibility, allowing you to access funds at different times based on your retirement needs.
If you’re unsure, getting financial advice can be valuable to help weigh the pros and cons. A qualified financial adviser can assess whether consolidation is right for you.