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Vatican pension obligations seen as ‘ticking time bomb’

August 09, 2022

» Continue to this story on Crux

CWN Editor's Note: In his analysis of the new Vatican financial statement, journalist John Allen noted that “for the first time it includes not just the Roman Curia but virtually every outfit that flies under the Vatican flag, with the number of entities covered rising from 60 in past statements to a robust 92 this time around.”

“The bad news is that to bring over-spending under control the Vatican is selling off about $20-$25 million of its patrimony every year, which means it’s cutting not just fat but muscle,” writes Allen. “There’s also a ticking time bomb in the form of the Vatican’s pension fund, which lacks the resources to cover the costs of a rapidly aging workforce nearing retirement.”

The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.

 


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  • Posted by: td4207 - Aug. 09, 2022 7:32 PM ET USA

    Would not worry about "patrimony", probably consisting of art works 100s of year old. Perhaps the Vatican can learn balance budgeting that includes jettisoning extraneous bureaucrats. Without motivation, bureaucracies grow like barnacles.