In an interview at the Seguros Summit 2025 conference, Portuguese Insurance Regulator (ASF) President Gabriel Bernardino argued that long-term savings and retirement products need a stable fiscal framework and simpler, more accessible solutions for citizens. He stressed that for retirement horizons of 20, 30 or 40 years, investors need confidence that tax conditions will not change unpredictably, and pointed to the need for appropriate tax treatment for those taking on long-term commitments. He also said investment policies should evolve to better position the domestic market, suggesting that redirecting a significant share of savings currently held in bank deposits into long-term retirement products could increase diversification, support investment in sectors such as infrastructure and health, and improve citizens’ pensions. The discussion also covered financial literacy initiatives, more flexible approaches to assessing risk profiles, innovation, regulatory simplification and protection gaps.
Portuguese Insurance Regulator (ASF) 2025-11-05
Portuguese Insurance Regulator calls for stable tax treatment to support long-term retirement savings products
Portuguese Insurance Regulator (ASF) President Gabriel Bernardino stressed the need for a stable fiscal framework and simpler long-term savings and retirement products at the Seguros Summit 2025. He advocated redirecting savings from bank deposits to long-term retirement products to enhance diversification and support infrastructure and health investments. The discussion also covered financial literacy, flexible risk assessment, innovation, regulatory simplification, and protection gaps.