Regulatory Alerts2021-02-08 | DOF 5611047Added · Updated
Amending Circular 1/21 of the Sole Insurance and Surety Circular
The National Commission of Insurance and Sureties modifies Provision 14.2.1 and adds Annex 14.2.1-y to the Sole Insurance and Surety Circular to incorporate technical notes for calculating constituent amounts for life annuities and survivorship insurance related to the Retirement, Disability in Old Age, and Old Age Insurance and pensions under article 172-A of the Social Security Law. The circular also modifies Annexes 14.2.2-s through 14.2.2-x to update contractual documentation formats for these benefits, ensuring clear indication of benefits for insured persons and beneficiaries. This adjustment implements reforms from the December 16, 2020 Decree regarding the guaranteed pension amount and calculation procedures, which entered into force on January 1, 2021. The circular entered into force the day following its publication in the Official Gazette of the Federation on February 8, 2021.
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