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History

 

The Portuguese civil servants retirement and survivor pensions funds, Caixa Geral de Aposentações (CGA) and Montepio dos Servidores do Estado (MSE), were founded in 1929 and 1934.

CGA and MSE formed, together, for many years Caixa Nacional de Previdência (CNP), an annexed institution to the Portuguese public bank Caixa Geral de Depósitos, Crédito e Previdência (CGD).

The organic dependency of CGA towards CGD was kept unchanged until 1993 (Decree-law 277/93), when MSE was extinguished and the management of the survivor pension scheme was transferred to CGA, meanwhile refunded as a public legal entity with its own Board of Directors and Audit Committee and with both financial and administrative autonomy, but under the regulatory authority of the Minister of Finances.

The means and services needed by CGA to develop its activity, namely installations and personnel, continued to be provided by CGD (CGD created in its organic structure the CGA support department - Departamento de Apoio à Caixa Geral de Aposentações (DAC), where about 260 employees work nowadays).

Nowadays, CGA is under the regulatory authority of the Minister of Solidarity, Employment and Social Security.