Regulatory Alerts2019-10-22 | DOF 5576125Added
General Provisions Establishing the Patrimonial Regime for AFORE Administrators, PENSIONISSSTE, and Specialized Investment Societies
The National Commission of the Retirement Savings System establishes a reduced patrimonial regime for AFORE administrators, PENSIONISSSTE, and specialized investment societies, setting fixed minimum capital at $25 million pesos for administrators and PENSIONISSSTE, and $100,000 pesos for each investment society. The special reserve requirement is recalculated at 0.71% of net assets for basic investment societies and up to 1.0% (capped at $900,000) for additional societies, with transitional reductions allowed starting April 1, 2020, contingent on resource transfers and operational efficiency evaluations. These provisions repeal the previous regulations published in May 2014 and April 2015, entering into force on December 16, 2019.