Portugal

SPAIN/PORTUGAL - Pioneer Investments has appointed Teresa Molins as senior sales manager of its institutional business in Spain and Portugal.

PORTUGAL - Moody's has downgraded Portuguese debt to 'junk' status on fears it will need a second bail out just months after it received €78bn ($112bn).

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

PORTUGAL - The country's €78bn ($116bn) bailout package will include cuts to higher pension payments, but left many other pension provisions in place.

DENMARK/PORTUGAL - Denmark's second-biggest pension fund said it may snap up Portuguese bonds if they keep falling after the country became the third euro member to seek a bailout since Greece's fiscal woes triggered the sovereign debt crisis.

PORTUGAL - Portugal Telecom has agreed to sign over its pension fund, which has €2.8bn ($3.7bn) in liabilities, to the state.

Portugal's third pillar system has come under fire from the pension industry, with insiders questioning the need for a publicly-funded third pillar in competition with private options.

PORTUGAL - Deutsche Bank is to offer custody and related services to Portuguese pension funds.

PORTUGAL - The Portuguese banking system was "more than usually" exposed to equity price risk through employee pension funds, an IMF report showed.

PORTUGAL - Portuguese pension funds received average expected returns of 1.4% (m-o-m) for August despite market volatility, said a report released by Watson Wyatt in Portugal.