Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state’s troubled pension fund needs urgent reform to guarantee future obligations.

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Pope warns the Vatican pension fund needs urgent reform as employees demand transparency

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Pope Francis is warning that the Vatican's troubled pension fund faces a “serious imbalance” and cannot guarantee future obligations without “urgent structural” reforms.

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Pope warns the Vatican pension fund needs reform; employees demand transparency

ROME (AP) — Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state’s troubled pension fund needs urgent reform to guarantee future obligations.

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The Pope has revealed in a letter to the Roman Curia that the pension system of the Vatican suffers "serious problems", since it is not able to endure "in the medium term" its fulfillment with future generations, so it has asked to carry out urgent reforms. "Currently it is unable to guarantee in the medium term the fulfillment of the pension obligation for future generations", says Francis in the letter that has spread the press office of the H…

El Papa ha revelado en una carta a la Curia Romana que el sistema de pensiones del Vaticano padece "graves problemas", ya que no es capaz de soportar "a medio plazo" su cumplimiento con las generaciones futuras, por lo que ha pedido llevar a cabo reformas urgentes. "Actualmente es incapaz de garantizar a medio plazo el cumplimiento de la obligación de pensiones para las generaciones futuras", asegura Francisco en la misiva que ha difundido la of…

El Papa denuncia que el sistema de pensiones del Vaticano está en peligro

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The Pope denounces that the Vatican’s pension system is in danger

The pension system is in deficit due to the ageing of the population and a 'serious imbalance' is expected in the medium term. Bergoglio appoints trusty Cardinal Farrell to reform

Il sistema pensionistico è in deficit per l’invecchiamento della popolazione e nel medio periodo si prospetta un “grave squilibrio”. Bergoglio nomina il fidato cardinale Farrell per riformare

Le pensioni preoccupano anche il Papa: “Il Vaticano così non regge, serviranno tagli”

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Pensions also worry the Pope: “The Vatican is not holding up like this, cuts will be needed”

ROMA.- Alarmed by a million-dollar deficit and the issue of future pensions for Vatican employees, Pope Francis announced this Thursday a drastic adjustment. Through an unusual letter he wrote to the College of Cardinals, the prefects and those responsible for curial institutions in view of the “economic sustainability of our organization,” he advanced “urgent structural measures” and “non-easy decisions.” In this context, he also announced that…

ROMA.- Alarmado por un déficit millonario y el tema de las futuras pensiones de los empleados del Vaticano, el papa Francisco anunció este jueves un drástico ajuste. A través de una inusual carta que le escribió al colegio cardenalicio, a los prefectos y a los responsables de las instituciones curiales en vista de la “sostenibilidad económica de nuestra organización”, adelantó “medidas estructurales urgentes” y “decisiones no fáciles”.En este ma…

Alarmado por las pensiones y cuentas que no cierran, el papa Francisco anunció un drástico ajuste en el Vaticano

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Alarmed by pensions and accounts that do not close, Pope Francis announced a drastic adjustment in the Vatican

ROME (AP) — Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state’s troubled pension fund needs urgent reform to guarantee future obligations. Vatican employees responded by expressing concern that their compensation might be targeted in any further cost-cutting to shore up the pension system, and asked for the fund’s finances to be made public.  In a letter to Vatic…

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Pope Warns Vatican Pension Fund Needs Urgent Reform as Employees Demand Transparency

Francis sends an unusual letter to his cardinals and sounds the alarm: the pension system will no longer work in the medium term. He demands a willingness to make sacrifices.

Franziskus schickt einen ungewöhnlichen Brief an seine Kardinäle und schlägt Alarm: Das Rentensystem werde mittelfristig nicht mehr funktionieren. Er verlangt Opferbereitschaft.

Pope warns the Vatican pension fund needs urgent reform as employees demand transparency

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