Pension Funds/Opinions/Contracts

Denomination of pension funds

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Given that, in the context of open pension funds, the designation given to them is particularly relevant, the use of expressions such as guaranteed capital, insurance capital, guaranteed investment, guaranteed income, secure retirement, guaranteed retirement, guaranteed future retirement or secure investment, are likely to generate, in reasonably attentive consumers, the conviction that the products to be subscribed assume certain characteristics, advantages or risks. The lack of materialisation of such characteristics in the effective description of the products may constitute a misleading commercial practice, for the purposes of Article 7 of Decree-Law 57/2008, of 26 March.

Thus, when choosing the designation of pension funds, a balancing of interests must be made between, on the one hand, the interest of the entities responsible for the constitution of funds in adopting an appealing designation for the public and, on the other hand, the general interest of consumers, as a public capable of subscribing to financial products available in the market, of having a clear and transparent perception of the characteristics and/or risks inherent to such products.


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