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Mexico Pension Plan

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Title: Mexico Pension Plan  
Author: World Heritage Encyclopedia
Language: English
Subject: Economy of Mexico, Welfare in Mexico, Foreign relations of Mexico, Mexico/Topics, Social determinants of health in Mexico
Collection: Economy of Mexico, Welfare in Mexico
Publisher: World Heritage Encyclopedia

Mexico Pension Plan

Mexico reformed its pension system in 1997, transforming it from a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. The reform was modeled after the pension reforms in Chile in the early 1980s, and was a result of recommendations from the World Bank.


Participants in the Mexican system choose from a variety of private pension fund managers called Administradores de Fondos para el Retiro (AFOREs). AFOREs are responsible for managing individual accounts and investing savings in the pension funds called Sociedades de Inversion Especializadas pare el Retiro (SIEFOREs). SIEFOREs are separate legal

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