Pension Funds/Opinions/Monitoring committee

Representation of contributing participants

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The cumulation of the figure of the monitoring committee with the requirement of compliance with the provisions of Article 21, No. 2, paragraph i) of Decree-Law No. 12/2006, of 20 January, when stating that the constitutive contract must include, "without prejudice to the provisions of Article 53 of the Constitution, the following provisions shall applyIn the case of funds that finance contribution plans, the form of representation of participants and beneficiaries, which cannot be delegated to the associate" will lead to a "duplication" of mechanisms for the representation of contributing participants with no useful effect (hence the relevance of the expression used by the legislator "without prejudice to the provisions of article 53 (...)"). In fact, there is no type of illegality that, in the case of contributory plans, the contributing participants are represented by the monitoring committee, all the more so as the law, for the purposes of Article 53(2) of the referred Decree-Law, only refers to "participants" and does not distinguish between contributing participants and non-taxpaying participants.

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