- Feb 5, 2002
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Pope Francis has appointed U.S. Cardinal Kevin Farrell to oversee “new and unavoidable” reform to the Vatican’s pension system as it faces a “serious prospective imbalance” that means changes can no longer be postponed.
In a Nov. 21 letter to cardinals, dicastery prefects, and managers in the Roman Curia, the pope underlined the gravity of the unsustainability of the Vatican’s pension fund, and noted the solution will require difficult decisions, “special sensitivity, generosity, and willingness to sacrifice on the part of everyone.”
To address the challenges, the pontiff said he had taken an “essential step” by naming Farrell “sole administrator” of the fund.
Continued below.
www.catholicnewsagency.com
In a Nov. 21 letter to cardinals, dicastery prefects, and managers in the Roman Curia, the pope underlined the gravity of the unsustainability of the Vatican’s pension fund, and noted the solution will require difficult decisions, “special sensitivity, generosity, and willingness to sacrifice on the part of everyone.”
To address the challenges, the pontiff said he had taken an “essential step” by naming Farrell “sole administrator” of the fund.
Continued below.
Pope Francis assigns US cardinal to carry out ‘urgent’ overhaul of Vatican pension fund
In a Nov. 21 letter to cardinals, dicastery prefects, and managers in the Roman Curia, the pope underlined the gravity of the unsustainability of the Vatican’s pension fund.
www.catholicnewsagency.com
