SHCP issues resolution regulating AFORES with respect to minimum reserve amounts
6 enero 2022

MEXICO

On December 31, the Secretariat of Finance and Public Credit (SHC, in Spanish) published, through the Official Gazette of the Federation, a resolution that modifies the provisions that regulate the minimum amount of reserves that Retirement Fund Administrators (AFORES in Spanish) must have. The text establishes that the amount of these reserves must be at least the equivalent of 0.55% of the net assets of each entity. The text is already in effect. 

The document also clarifies that these reserves may be reduced by 0.02% annually up to a limit of 0.06% of net assets, as long as they can prove through an external evaluation by an independent expert that the use of their assets is carried out under criteria attached to the best practices to guarantee that the investments are made in the best interest of the workers.

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