News / Global

November 22, 2024, by Carol Glatz, Catholic News Service
VATICAN CITY (CNS) — Pope Francis has appointed Kevin Cardinal Farrell, prefect of the Dicastery for Laity, the Family and Life, as the sole administrator for the Vatican's pension fund, which is currently unable to guarantee future obligations in the medium term. "We are all fully aware now that urgent structural measures, which can no longer be postponed, are needed to achieve sustainability of the pension fund," the pope wrote in a letter addressed to the College of Cardinals and the heads of the Roman Curia and other institutions connected to the Holy See. Given the limited resources available to the Holy See and because appropriate funding will be needed to cover all pension obligations, there is a need for…


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