Three administrators from CGD will indeed have to declare their income to the CC

  • ECO News
  • 3 November 2016

The three administrators for CGD the government chooses to manage the Civil Service Pension Fund will indeed have to declare their income to the Constitutional Court.

There are three administrators from Caixa Geral de Depósitos (CGD) that must declare their income to the Constitutional Court (CC). Those are the three – although not yet nominated – that will head the Civil Service Pension Fund (CGA) that has been going without a board of administration since António Domingues and his team took office.

The news is brought forward by Portuguese newspaper Público, that clarifies the government must choose, from the members of the CGD’s board of directors, three members to join the board of trustees of CGA. These three, as CGD’s administrators who refuse to declare income, must indeed present their income, property and corporate positions to the Constitutional Court, as managers of CGA.

All because even though they do not fall within the Public Manager Statute, thanks to the changes the government made this year, they will be covered by the statute of administrator of a public institute, as is the case of CGA. Besides, the organic law of CGA clarifies that the members of the board of trustees are covered by the outline law of public institutes in any matter not foreseen in the said organic law.

The CGA has been left without a board since the new board administration of CGD took office, because the CGA’s mandate forfeits automatically with the termination of CGD’s office. António Domingues took office as chaiman of CGD on 31 August. But we can look further back: Nuno Fernandes Thomaz, the last chairman of CGA, renounced his position in May, but ended up staying until June. He was never replaced, so CGA’s board of trustees has been left without a chairman for four months.

As of now, according to Público, the management of CGA is assured by a support management with six members and Serafim Ribeiro Amorim is the central manager. This board assures “the management of the social security system of the civil service regarding pensions”, states Eugénio Rosa, representative of the Common Front in CGA’s advisory council, to Público.