Priest Benefit Fund
Give to those who have given a lifetime
At the Diocese of Peterborough, we are committed to honoring and supporting our retired priests who have dedicated their lives to serving our communities. The Priest Benefit Fund provides vital monthly financial support to retired priests from the Diocese of Peterborough, ensuring they can live comfortably in their retirement years or during medical leave. By contributing to the Priest Benefit Fund, you are directly helping to provide for the needs of our retired priests, including housing, healthcare, and other essential expenses.
There are several ways you can support the Priest Benefit Fund:
1. Annual Special Collection: Our annual special collection, held in June, is a crucial source of funding for the Priest Benefit Fund. Your generous donation during this time makes a significant impact on the lives of our retired priests.
2. Monthly Donations: Consider making a recurring monthly donation to provide ongoing support to our retired priests. Even a small monthly contribution can make a big difference over time. You can give by credit card or through your parish’s preauthorized offertory program.
3. Legacy Giving: Leave a legacy by including the Priest Benefit Fund in your estate planning. Your thoughtful gift will help ensure that future generations of retired priests receive the support they need.
4. Securities & Non-Cash Assets: You can also support the Priest Benefit Fund by donating securities, real estate, life insurance or other non-cash assets. These gifts can provide valuable support to our retired priests while offering potential tax benefits to you as a donor.
Make a Donation
Ready to make a difference? Please consider donating to the Priest Benefit Fund today. Together, we can ensure that our retired priests are cared for and supported with the love and respect they deserve.
Frequently Asked Questions
When do priests retire?
Priests of the diocese typically retire at age 75, with many continuing past retirement age.
Do priests save for their retirement?
Priests are responsible for their own savings. Even so, because of their modest salary (which affects their Canadian Pension Plan) and personal almsgiving, their savings only provide for their basic needs in retirement. These savings can easily be exhausted by the need for nursing care or medical equipment.
What is the Priest Benefit Fund used for?
The PBF provides retired priests with a basic health insurance plan and monthly financial assistance for costs related to housing, food and transportation.
Where does the collection go?
The Priest Benefit Fund is an internal plan, and therefore not a registered pension plan. The assets and financial statements of the fund are fully segregated from diocesan operational funds. Contributions to the fund come from the annual collection, parish levies, Easter, and Christmas collections (25% of each collection supports the PBF, the remaining 75% stays within the parish).
To learn more about the Priest Benefit Fund contact our Stewardship and Development Office.