Whereas our Actuaries have continually pointed out that a Pension Plan, being far from static, requires that changing conditions be kept constantly under review and that the implementation of the Plan be modified from time to time in the light of the changing conditions, and
Whereas rapid alterations in all aspects of salaries, assessments, interest earnings, and other numerical bases require immediate reaction, and
Whereas experience has proved that with the Pension Canon in its present form, rapid and proper reaction for the benefit of members, both active and retired, is impossible, and
Whereas in the opinion of many, a Canon should encompass an objective in broad terms and empower certain persons to carry out effectively its declared aims and objectives, and
Whereas The Primate's Pension Plan Commission in their report to the Executive Council of The General Synod in Session at Hamilton, Ontario, in August 1960, made recommendations as to certain canonical changes and modifications which recommendations were approved by the said Executive Council, and
Whereas it is deemed desirable to enact a Pension Canon in keeping with these observations,
Be It Therefore Resolved That Canon VIII of the General Synod of The Anglican Church of Canada and the Regulations made thereunder as they may exist on the thirty-first day of December A.D. 1962 be hereby repealed and the new Canon VIII with its Regulations be enacted in their stead (see p.92). CARRIED in both Houses.
Resolved that the General Synod requests The Pension Board, after consultation with each Diocese, to inaugurate a Group Life Insurance Plan to cover all clergymen in the active ministry and such Lay Employees as may be designated by such dioceses or General Synod departments. CARRIED in both Houses.