2015-05-29 17:02:00

Pope: Motu Proprio revises Vatican’s Pension Fund

(Vatican Radio)  Pope Francis’ Motu Proprio which revises the statutes governing the Vatican’s Pension Fund was released on Friday (May 29th). The Director of the Holy See’s Press office, Father Federico Lombardi, said whilst there are some revisions in the Fund’s statutes, the regulations governing the Vatican pensions themselves remain the same with no changes being made to them for now. 

In particular, the Pope’s Motu Proprio introduces changes in how the president of the Fund’s Board of Directors is appointed. Previously, the president of the Administration of the Patrimony of the Apostolic See (APSA) more or less automatically became president of the Pension Fund but from now on the president will be directly appointed by Pope Francis who will choose from a list of three candidates proposed by the Council for the Economy and they could include lay people.

Father Lombardi said another important change is that four external candidates who are experts in the field of insurance and pension fund management will be named to the Board of Directors of the Vatican’s Pension Fund by the Council for the Economy.

Father Lombardi said the revisions contained in the Motu Proprio were considered necessary in the light of the new situation concerning the Holy See’s financial framework following the setting up of the Council and the Secretariat for the Economy.  

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