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Pope Benedict's pension plan

How much will the first pope to retire from the job in nearly 600 years collect each month?

By MSN Money Partner Feb 20, 2013 3:23PM

This post comes from Matthew Heimer at partner site MarketWatch.

 

MarketWatch logoWhat kind of retirement package do you give to someone who's spent 60-plus years on the job, including almost eight as chief executive? If you're the Roman Catholic Church, and that someone is Pope Benedict XVI (the once and future Joseph Ratzinger), you give him a monthly pension worth 2,500 euros, or about $3,340.

 

Pope Benedict XVI on February 13, 2013 (© ZUMA/Rex Features)The Italian newspaper La Stampa broke the story this week, reporting that the 85-year-old Benedict -- the first pope in nearly 600 years to retire from office -- will receive the pension that the church typically offers to retired bishops. (Don't speak Italian? Neither do I: Britain's Independent has the story here.)

 

Coincidentally, the pope's pension is almost identical to the maximum Social Security benefit a U.S. retiree could earn if she retired this year -- $3,350 a month, according to the Social Security Administration's benefits calculator. To receive a check that size, that hypothetical retiree would need to retire at age 70 or later after having earned the taxable maximum salary throughout her career -- the equivalent of $113,700 this year.

 

Of course, most of Benedict's personal expenses, from food to gardening, will be covered by the Vatican for the rest of his life, so his pension is mostly play money. (Alas: no grandkids to visit.)

 

The pot could get sweeter, too, according to La Stampa: If Benedict's successor awards him the status of emeritus cardinal -- not out of the question, since Ratzinger held various cardinal titles before being elected pope -- his pension could double.

 

More on MarketWatch and MSN Money:

102Comments
Feb 20, 2013 4:35PM
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Peanuts compared to what a one term congressman recieves for nothing
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Peanuts compared to what our American politicians receive for being CORRUPT and totally USELESS.
Feb 20, 2013 5:15PM
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From a non-catholic...........so what

It's a big job and he deserves it.

Feb 20, 2013 4:26PM
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Does anyone really care.  He will be well taken care of and that's about all anyone needs to know, except for, maybe, people who want to try to sell him a variable annuity.
Feb 20, 2013 6:34PM
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May The Almighty God bless him with all the best of everything he needs!   I never was impressed or inspired by Pope Benedict, , , , until NOW!  He, of course, being the first in 600 years to recognize the need.  Be strong and courageous enough to do the right thing, both for himself and for the good of the Church!  My Prayers will always be you!
Feb 20, 2013 7:25PM
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 My feeling is, this man,  is much more a Christian than any person who has written a negative comment  here. Its a shame that most people are negative by fault, when they could live a much more positive life.  In the way they live their lives, along with the actions they convey. As in the end, all will be judged, and there will only be one person who will have the final say.
Feb 20, 2013 8:50PM
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It sounds like he will be living a life of nearly constant prayer and he will probably continue to write. I assume that even the amount he has will be more than he plans to spend. I would guess that he will donate much of it and save some aside to be able to travel back to Germany occasionally.
Feb 20, 2013 5:16PM
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Chances are that the Pope or anyone else will not be a drag on any pension plan for very long.
Feb 20, 2013 8:20PM
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I'm sure there's plenty in fringe benefits.  Not bad for having taken a vow of poverty.
Feb 21, 2013 11:34AM
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His pension is from private funds, not tax revenues, so what difference does it make how much he gets.  Its the Vatican's business.
Feb 21, 2013 1:46PM
Feb 21, 2013 3:36PM
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I seen Baptist church Pastors get more than that... 
Feb 20, 2013 5:38PM
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Hey Bob1313, Let he is without sin cast the first stone! Vengeance is mine saith the Lord!
Feb 21, 2013 8:27AM
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Shame on MSN MONEY PARTNER for inducing hate and mockery by writing this article. You guys must be mentally disturbed.....stop drinking that cool aid.....  
Feb 21, 2013 2:23PM
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This Pope is a Great guy. Great example to all of us. Long live to the Pope.
Feb 20, 2013 5:19PM
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Damn, he could probably buy a souped-up Ex-Popemobile for that!  Go ex-pope!

 

Feb 21, 2013 12:57PM
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not very good pay for 60 yrs dedication.
Feb 21, 2013 5:22PM
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Compare that to what our potus will get for the rest of his life!
Feb 21, 2013 11:44AM
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one of most powerful people in world get 100 k a year... while the past forgotten ceo gets 10 times that
Feb 21, 2013 10:51AM
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No-minds, Naysayers and Nitwits-you conveniently parroted the sex-abuse scandal without knowing much about it, and even lied that that was the reason you stopped going to Church (you never went in the 1st place).

2ndly, the abusers of the innocent should've been jailed, not had their victims paid off. Likewise, any victim that took the payoff from the Catholic Church while their alleged abuser was still alive is a prostitute after the fact. Victims cry out for justice; prostitutes cry out for money. And woe to those false-accusers... 

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