The special reserve referred to in this Article shall be constituted without prejudice to the inclusion of the legal reserve established by the general law of commercial companies. Reformed article DOF 10-12-2002 Mr. Edgar González de la Consar affirms “that there are legal beneficiaries and representatives. In the first case, there is the widow or widower if he was economically dependent on the employee; children under the age of 16 or over if they are unable to support themselves for work or education until the age of 25; the parents (if they lived in the employee`s home) and the absence of the spouse, concubine or cohabiting partner if he was economically dependent on the employee. Substitute beneficiaries, who apply only in the absence of the legal beneficiaries, are those who have evidence to ask a judge to name them as such. To do this, it is necessary to be represented by a lawyer before the Federal Council for Conciliation and Arbitration, which will make the appropriate decision if it is an employee who has contributed to the IMSS and to the Federal Court if it is an employee who has contributed to the ISSSTE”. If you have to go through this procedure and you do not have a lawyer, you can call 01 800 717 29 42 of the federal prosecutor for the defense of labor to get one assigned free of charge. AFORES has its legal basis in article 175 of the Social Security Act, published in the Official Journal of the Federation (DOF) of 21 December 1995 and published on 1 December 1995. “The individualization and management of the resources of each retirement account will be the responsibility of the pension fund administrators. With which the parliamentary group of the Labour Party proposes that this House of Senators invite the teacher Carlos Ramírez Fuentes, President of the National Commission for the Pension System (CONSAR), to appear before this Assembly and give us a detailed report on each of the investments made through the projects carried out in different sectors with the contributions of Mexican workers. According to the Bureau of Financial Institutions, Afores registered 18,177 claims last year, the equivalent of 2.5 million pesos. Other cases that led to uncertainty about the preconditions were the retirees` investments in the construction company ICA, where PENSIONISSSTE, which manages about 195 billion pesos of retirements, acquired a 10% stake in ICA with the transaction while it was possible bankrupt (source: El Financiero 03/12/18). and the resources invested by Sura and Citibanamex in oro Negro “This investment makes Axis the largest shareholder of Oro Negro with a 66.7% stake, making Oro Negro a majority-owned company by Mexican workers.” Sura and Citibanamex are shareholders of Oro Negro, which suffers from serious financial problems.
(Source: El Economista 25/06/18). The former head of Condusef commented in an interview that by the end of 2018, it is possible that the claims registered by the Afores will be larger than those of 2017, as they have already collected more than 10,000 complaints from January to August. He explained that the origin of these requests is for unattended withdrawal requests and for unattended processing requests. “We think there is still a lot of work to be done, for example in terms of financial education, there is an important stretch because people have not considered the above to be part of their heritage. He still sees this as a formality, and they are afraid that the government will not reimburse him. The individual accounts contain employers` and civil servants` contributions corresponding to pension insurance, unemployment of the elderly and elderly and their income; It should expect that employees can expect to receive a pension when they retire. This account is divided into 4 sub-accounts: Article 22. Financial intermediaries that do not comply with the capitalization levels provided for by the applicable financial laws are not allowed to participate in the share capital of a director. Although banks have a lot of them, Afores are not banks or insurance companies. These are institutions dedicated exclusively to the management and investment of the resources you deposit into your individual account.
Below we present the net returns of the five basic Siefores. As mentioned earlier, the younger you are, the higher the performance. Tuesday, 12 February 2019 / Official Journal: LXIV/1SPO-80/89218 Ensure compliance with the Administrator`s self-regulatory programme, which includes the activities of senior officials and the rules to which they must be subject, as well as the corrective measures applicable in the event of non-compliance. This programme aims to ensure regulatory compliance, the efficient functioning of the administrator and the protection of employees` interests, as well as to avoid all types of operations involving conflicts of interest and misuse of inside information. Reformed group DOF 10-12-2002 art. 37 C. Administrators, based on the employee`s individual account data, must inform the employee in local currency of the approximate calculation they will charge for commissions in the following calendar year. On May 7, 2018, MetLife merged with Principal Afore, leaving a total of 10 existing Afores in the country. Article 23 The acquisition of shares in several directors or the involvement of new shareholders, which involves the purchaser`s participation in 5 % or more of the share capital of that manager and the merger of directors, must be authorised by the Commission, provided that such operations do not involve a conflict of interest. 2) Voluntary contributions: This sub-account consists of the voluntary savings that each employee can make during his working life.
The benefits of voluntarily depositing additional funds to those deposited on a mandatory basis include obtaining higher returns, tax benefits, the ability to withdraw resources at the required time (only the amount corresponding to voluntary contributions and resources must be received by Afore no later than 15 days after the request). 1. Open individual accounts at the request of employees. Send at least three times a year quarterly to the address provided by employees, their bank statements and other information about their individual accounts in accordance with the provisions of Article 37-A of this Law. Similarly, information services must be set up via the Internet and attention must be drawn to the personalised public; Reformed group DOF 10-12-2002, 21-01-2009 5. You record in the individual account the income generated by the employee`s retirement savings. The auditor performs the following functions: 4) Additional or additional contributions: they are intended to increase the amount of the pension, these contributions can be paid by any employee or the employer at any time, and they can be available at the time of retirement. According to Consar, in August 20012, the resources managed by the Afores amounted to one trillion 808 million pesos and increased at an average annual rate of 16%.
The withdrawal of early marriage funds only applies to employees affiliated with the IMSS. To retire, you must have contributed at least 150 weeks to the savings system established in 1997 and that the marriage was contracted after July 1, 1997, the date on which this benefit was introduced. You must also have the resolution of the assistance with wedding expenses issued by the IMSS. Article 30. In each director, there will be a regulatory officer who will be responsible for ensuring that his or her officials and employees comply with applicable external and internal regulations. The administrator shall make available to the regulatory controller the human and material resources necessary for the proper performance of the functions under his authority. Mexican legal entities whose capital is majority owned and effectively controlled by Mexicans. The Management Board may, after analysing the application, request additional information, clarifications, adjustments or, where appropriate, refuse the corresponding authorisation if the fees submitted to it are in the interest of the employees, taking into account the amount of assets under management, the cost structure of the directors, the level of other fees available on the market and other elements taken into account by the management body: are excessive for the interests of workers. Relevant.