Originally published at National Catholic Register
The Irish-born cardinal, who was bishop of Dallas for nine years before his transfer to Rome, has also been chair of the Pontifical Committee for Investments since 2022.
Pope Francis has appointed U.S. Cardinal Kevin Farrell to oversee “new and unavoidable” reform to the Vatican’s pension system as it faces a “serious prospective imbalance” that means changes can no longer be postponed.
In a Nov. 21 letter to cardinals, dicastery prefects, and managers in the Roman Curia, the pope underlined the gravity of the unsustainability of the Vatican’s pension fund, and noted the solution will require difficult decisions, “special sensitivity, generosity, and willingness to sacrifice on the part of everyone.”
To address the challenges, the pontiff said he had taken an “essential step” by naming Farrell “sole administrator” of the fund.
Cardinal Farrell, 77, is prefect of the Vatican’s laity, family and life dicastery, as well as camerlengo of the Holy Roman Church, and president of the Pontifical Commission for Confidential Matters.
The Irish-born cardinal, who was bishop of Dallas for nine years before his transfer to Rome, has also been chair of the Pontifical Committee for Investments since 2022.
In his roles in the confidential matters commission, Farrell
