Pope Francis is warning that the Vatican's troubled pension fund faces a “serious imbalance” and cannot guarantee future obligations without “urgent structural” reforms

Pope Francis said on Thursday the Vatican's pension fund is facing a "serious imbalance" that may require changes to its operating structure, and appointed a senior cardinal to take over the fund's administration.

Pope Francis is warning that the Vatican’s troubled pension fund faces a “serious imbalance” and cannot guarantee future obligations without “urgent structural” reforms

The pope has expressed uncommon concern about the Vatican's budget several times in recent months. In October, he ordered the third reduction in three years for the pay packages o

Pope Francis, who has imposed a series of cost-cutting measures across the cash-strapped Vatican, warned Thursday that the city state's troubled pension fund needs urgent reform to guarantee future obligations.