Regulatory Alerts2016-06-03 | DOF 5439947Added
General Provisions Establishing the Commission Regime for National SAR Database Operating Companies
The National Retirement Savings System Commission establishes maximum monthly and per-transaction fees that National SAR Database Operating Companies may charge Retirement Fund Administrators for services including individual account administration, electronic file management, biometric data handling, account transfers, and information queries. The regulation sets specific fee caps, such as 0.25 pesos per account per month and 8.90 pesos for biometric registration, while prohibiting charges above these limits. Administrators are required to cover 50% of the inspection and surveillance rights fee by December 30 of the preceding year and the remaining 50% by June 30 of the current year. Operating companies must conduct annual comparative studies of their income and expense structures and submit justifications for applied commissions to their boards of directors and the Commission.
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