PORTUGAL - Portuguese pension funds are expected to post positive returns in July, returning an average of 0.7%, despite negative sentiment as a result of various terrorist attacks and volatile oil prices.
According to Watson Wyatt, positive contributions are likely to come from equities. International equities are expected to return 2.9%, with Portuguese equities at 1.1% and other Euro equities at 4.4%.
For the second quarter ended 2005, expected returns are 2.7%, while returns for the first quarter were 1.9%.
For the seven-month period ended July 31, 2005, pension funds are expected to return 5.3%.
Former home secretary Amber Rudd is to return to the cabinet as work and pensions secretary after the resignation of Esther McVey.
This week's top stories included proposed draft regulations in a no-deal Brexit which would make scheme investments illegal, and Esther McVey's resignation as secretary of state.
There have been a total of 15 ministers responsible for pensions since 1997. Here is the list in full.