Portugal

PORTUGAL - Portuguese pension funds reported a 0.3% return in June, with main positive contributions from domestic equities, 36% of the total portfolio.

PORTUGAL - The Portuguese government has set out its controversial agenda to overhaul the first pillar pension system with measures designed to boost funding levels and reduce benefit payments.

PORTUGAL - Portuguese pension funds reported a -0.3% return in April 2006 with main negative contributions from fixed income, worth around 31% of the total portfolio.

PORTUGAL - The Organisation for Economic Co-operation and Development (OECD) has warned urgent action needs to be taken if the Portuguese state pension system is to be financially sustained beyond 2014.

PORTUGAL - Portuguese pension funds reported a 1.1% return in March 2006, a positive performance assisted by rising interest rates, said Watson Wyatt.

PORTUGAL - Portuguese pension funds reported a 1.8% return in February 2006, a particularly good month for portfolios invested in domestic equities, said Watson Wyatt.

PORTUGAL - Portuguese pension funds reported a 0.6% return in January 2006, a month marked by volatility, according to Watson Wyatt.

PORTUGAL - Portuguese pension funds reported a 1.9% return in December, the best monthly return this year according to Watson Wyatt.

PORTUGAL - Portuguese pension funds reported a 1.5% return in November, the best return this year, according to Watson Wyatt.

PORTUGAL - October was the worst month this year for Portuguese pension funds, with a negative 1% return posted against a background of falling markets and the expectation of higher inflation.