*** DEBUG END ***

Pensions Board loans

11 April 2014


From Mr Martin A. Henwood
Sir, - Your long report on the Pensions Board's being accused of immoral loans to its pensioners (News, 4 April) is a classic example of how not to deal with a complaint.

The shared-equity loan interest paid by on the property by the good cleric has been at an interest rate of less than three per cent above base rate over the period. If the profit available on the property is taken into account, the loan has been made at less than base rate over the period: interest cost £34,000. That's a fantastic deal, and it's good to see the Church being fair and looking after its pensioners.

The "profit" attributed to the Pensions Boardis about 5.5 per cent above base rate across the period, which is low, given the risk involved, and achieved only because of a long-term commitment and a booming property market at present. That return will, no doubt, go down when the current bubble bursts, but the long-term commitment will not.

The Pensions Commissioners may want to find out, however, why reasonable questions were not answered, and what the administrators' approach is to risk-management, as there is an evident weakness when it comes to reputational risk-assessment.

24 High Street
Bidford on Avon
Alcester B50 4BU

Letters to the editor

Letters for publication should be sent to letters@churchtimes.co.uk.

Letters should be exclusive to the Church Times, and include a full postal address. Your name and address will appear alongside your letter.

Forthcoming Events

6-7 September 2022
Preaching as Pilgrimage conference
From the College of Preachers.

27-28 September 2022
humbler church Bigger God conference
The HeartEdge Conference in Manchester includes the Theology Slam Live Final.

More events

The Church Times Archive

Read reports from issues stretching back to 1863, search for your parish or see if any of the clergy you know get a mention.

FREE for Church Times subscribers.

Explore the archive

Welcome to the Church Times

​To explore the Church Times website fully, please sign in or subscribe.

Non-subscribers can read four* articles for free each month. (You will need to register.)

*Until the end of June: we’re doubling the number of free articles to eight, to celebrate the publication of our Platinum Jubilee double issue.