Portugal Lets Funds Pay Pensions Directly

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Pensions derived from defined contribution plans financed through pension funds can be paid directly by the fund and no longer have to be paid through an annuity, under a regulation published by the Portuguese Authority for Insurance and Pension Funds (ASF). The new arrangement applies regardless of how the pensions are financed — either through closed pension funds, collective pensions or an individual plan member. The regulation took effect on 28 Dec 2018.

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