Notice No. 1/2026

Banco de Portugal issued Notice No. 1/2026 to regulate the liabilities for retirement and survivor pensions arising from defined benefit plans held by credit institutions and financial companies. This regulation revokes previous directives, specifically Notice No. 12/2001 and Instruction No. 4/2002, to update prudential standards for pension provisions. The notice applies to a wide range of financial entities including banks, savings institutions, and factoring companies, with the regulation entering into force on March 4, 2026.

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Notice No. 1/2026

Summary

Regulates the liabilities for retirement and survivor pensions arising from defined benefit plans of credit institutions and financial companies and revokes the Banco de Portugal Notice No. 12/2001, of November 23, and the Banco de Portugal Instruction No. 4/2002, of February 15.

Status

In force

Official Journal

DR, 2nd Series, Part E, No. 43 of 03-03-2026

Enabling Law

DL No. 298/92, of 31-12, RGICSF, arts. 99, para. 1, 115, para. 1 and 120, para. 2

Publication Date

03-03-2026

Entry into Force Date

04-03-2026

Descriptors

Pension Funds, Prudential Standards, Retirement Pension, Survivor Pension, Provisions, Liabilities, Supervision

Target Audience Type

Credit Institutions, Financial Companies

Recipients

Exchange Agencies, Banks, Central Credit Agricultural Mutual Fund, Agricultural Credit Mutual Savings Banks, Savings Banks, Mortgage Credit Institutions, Credit Financial Institutions, Regional Development Companies, Factoring Companies, Mutual Guarantee Companies, Investment Companies, Financial Leasing Companies, Credit Financial Companies, Microcredit Financial Companies

Notices Amended/Revoked

Notice No. 12/2001

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