Pension Funds/Opinions/Operation of pensions funds

Debit to the Fund of the auditor's remuneration

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Within the scope of paragraph j) of article 67 of Decree-Law no. 12/2006, of 20 January, not only the expenses arising from compliance with the plan(s) financed by the fund, but also those incurred for the benefit of the fund or resulting from the provision of services to the fund, provided they are necessary for the achievement of the purposes for which the fund was set up, and the audit of pension funds, under the terms of article 56 of the Portuguese Securities Code, is the responsibility of the company.Therefore, despite the fact that the auditor's remuneration is not expressly provided for as an expense of the fund (contrary to the remuneration of the management entity and the depositary (article 67, paragraph d), of Decree-Law no. 12/2006), we consider it defensible that the costs of the audit may be charged to the fund.

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