Article 66, paragraph a) of Decree-Law no. 12/2006, of 20 January, as already provided for in Article 25, paragraph a) of Decree-Law no. 475/99, of 9 November, determines that not only contributions in cash but also in securities or real estate made by members and taxpayers constitute revenue of a pension fund.
With regard to contributions in securities and real estate, it is also necessary to comply with Regulatory Rule no. 169/1992, of 3 December, the application of which is intended for the transfer of securities and real estate, carried out as a contribution to a Pension Fund by members, participants or taxpayers.
The legislator, by admitting that securities contributions are made to pension funds, is, consequently, admitting the making of contributions in securities, and it is only worth mentioning that the making of such contributions should be made in accordance with the underlying investment policy and the risk profile assumed in each pension fund, which will have to be controlled by the corresponding management entity.