Home » Parish tools » Church Property Trustees

Church Property Trustees

PIF Internet Banking

Click here to access PIF Internet banking or enter http://pif.gfsg.co.nz/ in your Internet browser.

Introduction

The Church Property Trustees have custodial responsibility for many of the Church’s assets. All property is held on behalf of parishes in the name of the Trustees and the Trustees manage the major funds of the Church in particular the Presbyterian Investment Fund and the ministers Beneficiary Fund. See below for further information about these funds.

The Trustees are appointed and report to the General Assembly. The Trustees’ responsibilities are defined by a private act of parliament called the Presbyterian Church Property Act 1885 and also trust law. All monies are held in trust and managed in such a way to serve the interests of the Church.

Read the Chairman's report for 2007.

Click here for a list of the Trustees.

Any enquiries regarding Trustee activities should be directed to:

Heather McKenzie, Secretary, Church Property Trustees, PO Box 9049 , Wellington
Telephone 04 381 8290, email heather(at)presbyterian.org.nz

Church Property Trustees material does not apply to presbyteries and parishes in Otago and Southland, who should contact the Synod of Otago and Southland.

To top

The Property Handbook

The Property Handbook is a comprehensive guide for parishes, presbyteries and UDCs when dealing with properties. It describes the procedures to be followed when considering property development and transactions and includes copies of the forms to be completed when proposing such transactions.

Download the Property Handbook here (pdf)

Parishes in Otago and Southland should contact the Synod of Otago and Southland

To top

The Presbyterian Investment Fund

The Presbyterian Investment Fund (previously known as the Amalgamated Investment Fund) is a consolidated cash fund of approximately $80 million offering high security and good interest rates with deposits available on call. The Fund is open to all parishes.

Most of the deposits come from the more than 300 parishes who have funds not immediately required for operational activities. Other contributions come from parish capital funds, General Assembly funds and trust funds.

A very high level of security is achieved by:

  • Investing in a diverse range of fixed interest investments including bank debentures, government and local body stock and secure corporate bonds.
  • There is no investment in property or shares.
  • All investments are rated and have a mininum credit rating of A-. If any investment falls below this rating it is sold.
  • The Fund holds significant reserves which enable the fund to access the more favourable longer term investment rates available while still ensuring that all cash withdrawals can be met.

Interest rates are maximised by:

  • Pooling funds provides the opportunity to obtain interest rates normally only available to large investors.
  • Managing the maturity dates of investments to maxmimise return.
  • There is no profit. All interest except for a small administration charge is retained for investors.

Transactions are straigthforward. Interest is credited quarterly and Parish Treasurers receive regular statements. To keep administrative costs low, the mininum deposit is $2500.

Contact the Secretary to the Church Property Trustees, Heather McKenzie at heather(at)presbyterian.org.nz

Presbyterian Investment Fund report and financial statements to 30 June 2007 (pdf)
Presbyterian Investment Fund report and financial statements to 30 June 2006 (pdf)

To top

The Beneficiary Fund

The Beneficiary Fund has as its objective the support of Ministers of the Church both in service and particularly in retirement. The Fund is managed by the Trustees while responsibility for the rules and discretionary activities are governed by the Beneficiary Fund Committee.

AON handle all routine administrative matters and any enquiries should be initially directed to them at 0800 266 4636 and asking for Daphne McMahon

Beneficiary Fund Annual Report to Members 2007 (pdf)
Beneficiary Fund report and financial statements to 30 June 2007
Beneficiary Fund notes June 2007
Beneficiary Fund report and financial statements to 30 June 2006 (pdf)
Beneficiary Trust Fund Deed and regulations (pdf)
Beneficiary Fund Accounts 2005 (pdf)
Beneficiary Fund Accounts 2004  (pdf)

To top

Trusts

The Trustees have responsibility for managing the assets associated with a large number of individual trusts including two farms. Decisions on trust distributions are shared between many different parts of the Church. Any enquiries regarding individual trusts should initially be directed to the Secretary to the Trustees, Heather McKenzie.

To top