The Economics Of Being A Retired Pope

February 12, 2013 in Daily Bulletin

Pope Benedict XVI has become the first Pope to retire in almost 600 years. L.V. Anderson answered a few questions about what the Pope will do now:

  • After retiring Pope Benedict will go to the Pope’s summer residence, and then onto a monastery of nuns in the Vatican. Where he lives after that is up to him.
  • Popes have no formal retirement pension plan – and in fact have no compensation plan while they’re employed. The Holy See merely pays for the Pope’s expenses and this arrangement may continue. The Pope will also have continued access to the Vatican’s lavish healthcare plan.
  • He won’t automatically get his old job back. If he wants to become a Cardinal he’ll have to be reappointed by the next Pope.
  • Officially the Pope will have no say in who is successor will be. But he will likely have influence since he has appointed 67 of the 118 individuals who will select the next Pope.

Read more about what happens to his name, and his twitter account over here.

Source: Slate