A DRAFT Measure on pensions, introduced by April
Alexander (Southwark), proposed to allow the Church
Commissioners a further seven years to continue to meet pension
obligations from capital rather than income. This power was first
granted in 1997, and will expire in 2018 under existing
Mrs Alexander explained that, without this ability, more and
more of these Commissioners' funds would be unavailable for other
non-pensioner beneficiaries. "A renewal of this power will enable
the Commissioners to make investment decisions with regard to the
overall return in the very long term. Without it, they would have
to focus on the short term at the expense of overall growth."
The motion was carried.