The Italian media is reporting that Pope Benedict XVI who announced his resignation from office with effect from February 28 will be paid a pension of 2,500 euros a month, or about $3,340.
There is no precedent for a papal pension. The last one to resign was in 1415; everybody else died in office, however the pope is officially also the bishop of Rome and that is the amount usually quoted as pension for retired bishops. Click below to read more…
The Vatican press office did not confirm the amount, but a spokesperson said that the pope’s needs, as well as those of whatever staff he might choose to retain in the Vatican monastery he is retiring to, “will be met.”
The 86-year-old Joseph Ratzinger plans to live out his days in prayer and meditation at the Mater Ecclesiae monastery. But first, he will spend the initial months after his abdication at the Castel Gandolfo papal residence, outside of Rome, as the monastery undergoes renewals.
He will not bring much with him from his eight years as pope, except for some books, letters, his piano and personal objects, according to a report by Italian site TGcom. His vast library and notes will be kept in the Vatican but will not be available to the public. Ratzinger himself will need to make a formal request with the Vatican library in order to consult them.