Planning for Retirement

The Church Pension Fund provides ample resources to help you plan for your retirement. Begin by visiting their website: Read and/or download appropriate resources. Watch webinars. Sign up for and attend their conferences. If you have questions, call them at (866) 802-6333 Monday – Friday, 8:30 AM – 8:00 PM ET

IMPORTANT: Clergy need to notify Church Pension Fund three months before they plan to retire so all of the paperwork can be completed in time. This includes getting the Bishop’s permission. You can request an estimate of your pension after retirement at any time.

Whether retirement is a distant dream or a next step, it is never too early or too late to start planning! Here’s how to start:

  • Set realistic financial goals for retirement.
  • Make a budget and stick to it.
  • Estimate the cost of college education for children and other family members you are financially responsible for.
  • Review your Group Life Insurance benefits and calculate the amount of life insurance you need.
  • Review your pension benefits. Call Client Services to arrange a time to review the status of your benefits.
  • Assess your savings, including retirement savings and other pension plans in which you or your spouse may be vested, as well as other potential sources of retirement income.
  • Review your Church Pension Fund life insurance beneficiary information, as well as beneficiaries on other policies you may have. Download the Group Life Insurance Beneficiary Form.
  • Review the beneficiaries you have named for Clergy Pension Plan benefits: pre-retirement survivor beneficiary and lump sum death benefit beneficiary. (Refer to your Personal Information Summary or call.
  • Review your annuities and retirement savings accounts.
  • Think about where you would like to live in retirement and research costs.
  • Review your Social Security information.
  • Remember to continue using the Internal Revenue Service’s housing exclusion for clergy.
  • Review your medical insurance needs and options.

If You’re Retiring Soon

If you plan to retire within the next six months, you should:

  • Request your Medicare card from Social Security three months before your 65th birthday.
  • Decide when to take Social Security benefits.
  • Consider opportunities to earn income after retirement, but remember that Social Security and The Church Pension Fund limit retirement earnings.
  • Continue using the Internal Revenue Service’s housing exclusion for clergy.
  • File the retirement forms with The Church Pension Fund three months prior to your retirement date.


Some of the other resources on the CPG website:

Determining Life Insurance Needs  Step-by-step guidance  E-Mail

Figuring Retirement Income Needs   To help you calculate and plan

Financial Assessment  Checklist to get you started

Life GoalsTo help you think about the financial implications of your goals

Monthly/Annual Spending Plan  To help you create a budget

Net Worth Statement  An overview of your assets and liabilities

Organizing Financial Documents  Guidance on what information to gather & where to find it

Resources for Financial Assessment  Resources for Financial Assessment

Setting Financial Goals  To set short, medium and long-term goals

Summary of Insurance Statement Keep your critical insurance information in 1 place

What Will College Cost   Estimate the cost of a four-year bachelor’s degree

Your Financial Planning To Do List  To help you take action