Pensioners – with assets of €260m

THE nuns in the Sisters of Charity are primarily pensioners, with few, if any, falling under the age of 60.

According to information supplied to the government in 2009, the average age was 75 and the order’s estimated assets in Ireland and abroad totalled €266.2m. At €207.2m, most were located in Ireland, where schools were valued at €64m, convents at €53m and buildings for health care services at €85m. Against these assets they had local authority mortgages of €2m, while the cost of providing services and looking after their members were €11.6m and €38.8m respectively. These costs included paying the future salaries of non-religious lay staff working at centres owned by the nuns.

The Sisters of Charity are involved in hospitals, hospices and providing residential care for elderly, visually impaired and intellectually disabled people. According to their 2009 financial statement, the order leased properties for a nominal rent to companies running their healthcare and social services. For example, the nuns retained ownership of part of one building used by St Vincent’s private hospital, which was leased back to St Vincent’s Healthcare group at about half the open market rent.