[color=rgba(0, 0, 0, 0.87)]It firmly believes, professes, and proclaims that those not living within the Catholic Church, not only pagans, but also Jews and heretics and schismatics cannot become participants in eternal life, but will depart “into everlasting fire which was prepared for the devil and his angels” [Matt. 25:41], unless before the end of life the same have been added to the flock; and that the unity of the ecclesiastical body is so strong that only to those remaining in it are the sacraments of the Church of benefit for salvation, and do fastings, almsgiving, and other functions of piety and exercises of Christian service produce eternal reward, and that no one, whatever almsgiving he has practiced, even if he has shed blood for the name of Christ, can be saved, unless he has remained in the bosom and unity of the Catholic Church.[/color]

Does this mean that acts of piety aren't merited on the souls of heretics/schismatics, don't decrease their punishment in hell, or does it mean they won't achieve eternal reward for their works unless they repent and then their works will be merited and then their time in purgatory will be reduced?

This goes back to the Church Fathers who say that those who "eat the lamb" (celebrate Mass and receive Holy Communion) outside the Church do so for their condemnation.  So the things that normally bring an increase of sanctifying grace have no effect on those outside the Church.

This goes on to say that even martyrdom does not save those outside the Church ... a dogma that is routinely rejected by Jorge Bergoglio.  It's one of his clearest heresies.