April Scott-Clarke
As Pope Benedict XVI steps down today—the first Pope to do so in almost 600 years—he’ll do so in comfort. The retirement package for the Pope is one that many Canadians could only pray for.
Following are some of the basics of Pope Benedict XVI’s retirement package.
- The pope emeritus will receive a monthly pension of €2,500, according to Italian newspaper La Stampa. That’s just over CAD$3,300.
- The Roman Catholic Church will cover his living expenses, provide him with a spacious home inside the Vatican and pay for everything from cooked meals to housekeepers, according to The Telegraph.
- The pope emeritus will continue to be a member of the Vatican’s generous private healthcare policy, reports the BBC.
To put this into perspective, the average payouts for old age security and Guaranteed Income Supplement, as per the most recent information from Service Canada, are $514.56 and $499.98, respectively.
While this is only one leg of retirement income, Canadians would need to be saving diligently (or have a very generous pension plan) to come close to what Pope Benedict will be receiving in his post-Pope years.