VATICAN CITY
Rome Reports
[with video]
2014-07-09
The Vatican’s supreme authority on economic affairs, the Council for the Economy, cleared up any doubts about the soundness of the Pension Fund for workers of the Holy See and the Vatican City State.
“The Council recognized and acknowledged that the pensions, which are being paid today to all the employees of the Holy See, as well as the Governatorato, as well as all the pensioners, and also for the next generation are safe.”
Italian press had speculated about the existence of a “black hole” in the pension fund, worth an estimated 800 million euros. The Vatican referenced the uncertainty surrounding pension funds in many Western countries, due to the economic crisis. But, it dispelled any cause for concern.
However, to avoid headaches and to guarantee the system’s solvency in the future, the Council created a technical committee to analyze the state of the Pension Fund, and adapt it to the new economic-administrative structure of the Holy See.
Note: This is an Abuse Tracker excerpt. Click the title to view the full text of the original article. If the original article is no longer available, see our News Archive.