Modifications and Additions to the General Provisions Establishing the Procedure for Constructing the Net Performance Indicators of Investment Companies Specialized in Retirement Fund Societies

DOF: 25/02/2026

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS ESTABLISHING THE PROCEDURE FOR THE CONSTRUCTION OF THE NET PERFORMANCE INDICATORS OF THE INVESTMENT COMPANIES SPECIALIZED IN RETIREMENT FUNDS

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Treasury.- Ministry of

Treasury and Public Credit.- National Commission of the Retirement Savings System.

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS THAT

ESTABLISH THE PROCEDURE FOR THE CONSTRUCTION OF THE INDICATORS OF

NET PERFORMANCE OF THE INVESTMENT COMPANIES SPECIALIZED IN RETIREMENT FUNDS

The President of the National Commission of the Retirement Savings System, based on the

articles 1st, 2nd, 3rd, fraction V bis, 5th, fractions I, II and XVI, 12 fractions I, first paragraph, VIII and XIII, 37, 74

and 76 of the Law of the Retirement Savings Systems; the Fifth Transitory Article of the Decree by which

various provisions of the Law of the Retirement Savings Systems are reformed and added, published in

the Official Gazette of the Federation on January 21, 2009; articles 1st, 12, 41, 52, 53, Third and Fifth

Transitory Article of the Regulations of the Law of the Retirement Savings Systems; articles 1st, 2nd, fraction III

and 8th, first paragraph of the Internal Regulations of the National Commission of the Retirement Savings System, and

CONSIDERING

That, Article 74 of the Law of the Retirement Savings Systems establishes the right of

workers to the opening of an individual account with the Administrator of their choice;

That, articles 3rd, fraction V bis., 74 and 76 of the Law of the Retirement Savings Systems empower

the Board of Directors to authorize the methodology to construct the Net Performance Indicators of the

Investment Companies Specialized in Retirement Funds so that they adequately guide the

decision of workers in case of Transfers, as well as for the Assignment and Reassignment of accounts;

That, article 53 of the Regulations of the Law of the Retirement Savings Systems, in compliance with

what stated in article 74 of the Law of the Retirement Savings Systems, provides that the

Administrators carry out the necessary actions to locate the holders of the Individual

Accounts assigned to them for registration;

That, in order to incentivize and increase the registration of assigned and reassigned Individual

Accounts, it is necessary to consider as a calculation factor for the reassignment of accounts the effort made by

each Administrator to achieve the registration of such accounts, for the benefit of their holders, and

That, to improve the information that Administrators provide to Workers, it is

convenient to establish that they can provide them with returns over a 3-year horizon

so that they can make informed financial decisions regarding their retirement savings, therefore it is

proceeding to issue the following:

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS

THAT

ESTABLISH THE PROCEDURE FOR THE CONSTRUCTION OF THE

INDICATORS OF

NET PERFORMANCE OF THE INVESTMENT COMPANIES

SPECIALIZED IN RETIREMENT FUNDS

SINGLE. Article 13, first paragraph, its fraction I, subsection a) second paragraph, subsection b)

second paragraph, its fraction II, subsection b) and Annex D, first paragraph, are MODIFIED, and Articles 8 with a

second paragraph, moving the current second to become the third, Article 13 with a final

paragraph and Annex D with a fraction VI, all of the General Provisions that establish the

procedure for the construction of the Net Performance Indicators of the Investment Companies Specialized

in Retirement Funds with their current modifications and additions, are ADDED, to read

as follows:

" Article

8 . ...

For

informational

purposes,

the

Administrators

may

present

to

the

Worker

the

information

corresponding

to

the

Returns

of

Markets

calculated

over

a

horizon

of

36

months

of

the

Basic

Investment

Company,

the

Initial

Basic

Investment

Company

or

the

Basic

Investment

Company

of

Pensions

that

corresponds.

... "

" Article

13. For the Reassignment of Individual Accounts assigned or reassigned that are not

registered after two years, in

accordance with what is provided in article 76 of the Law, and

52

and

53

of the

Regulations, the

Administrators and the Commission shall be subject to the following procedure:

I.

The

Commission will determine for each Group which are the Basic Investment Companies and

Initial Basic Investment Companies that, having received assigned or reassigned accounts and not

having registered them in the previously mentioned period, may keep said accounts,

subjecting themselves for such effect to the following:

a)

...

The Individual Accounts of the Basic Investment Companies and Initial Basic Investment

Companies that do not satisfy the conditions established in the previous paragraph, will be

included in the Reassignment process. In

the

same

way,

they

will

be

included

in

the

Reassignment

process,

those

Individual

Accounts

of

which

there

is

no

evidence

of

the

activities

carried

out

by

the

Administrator

to

locate

the

person

holder

of

the

assigned

or

reassigned

account,

regardless

of

whether

the

Basic

Investment

Companies

or

Initial

Basic

Investment

Companies

of

such

Administrator

comply

with

the

conditions

established

in

the

previous

paragraph. The total amounts that must

be reassigned must be subject to what is provided in Annex "E" of these general

provisions.

b)

...

The Individual Accounts of the Basic Investment Companies and Initial Basic Investment

Companies that do not satisfy the conditions established in the previous paragraph, and

for

which

there

is

no

evidence

of

the

activities

carried

out

by

the

Administrator

to

locate

the

person

holder

of

the

assigned

or

reassigned

account

will

be

included

in

the

process

of

Reassignment.

II.

...

a)

...

b)

It will establish a mechanism of proportionality that must be observed for the distribution to each

Group of the Individual Accounts that will be reassigned to the Administrators whose Basic Investment Companies and Initial Basic Investment Companies corresponding are found in

the third that records the highest Net Performance Indicators for Assignment and

Reassignment, in accordance with the methodology provided in Annex "D" of these general

provisions. This

methodology

will

consider

both

the

Reassignment

of

Individual

Accounts

assigned

or

reassigned

that

are

not

registered,

as

well

as

the

Reassignment

of

those

Individual

Accounts

of

which

there

is

no

evidence

of

the

activities

carried

out

by

the

Administrator

to

locate

the

person

holder

of

the

assigned

or

reassigned

account.

III.

...

...

...

For

purposes

of

validating

the

evidence

regarding

the

activities

carried

out

by

the

Administrator

to

locate

the

person

holder

of

the

assigned

account

to

which

reference

is

made

in

this

article,

the

Administrators

must

make

available

to

the

Commission

the

corresponding

information. "

" ANNEX

D

MECHANISM

OF

PROPORTIONALITY

THAT

MUST

BE

OBSERVED

FOR

THE

DISTRIBUTION

OF

THE

INDIVIDUAL

ACCOUNTS

THAT

WILL

BE

ASSIGNED

AND

REASSIGNED

TO

THE

ADMINISTRATORS

WHOSE

BASIC

INVESTMENT

COMPANIES

OR

INITIAL

BASIC

INVESTMENT

COMPANIES

ARE

FOUND

IN

THE

THIRD

THAT

RECORDS

THE

HIGHEST

NET

PERFORMANCE

INDICATORS

FOR

ASSIGNMENT

AND

REASSIGNMENT

The mechanism of proportionality referred to in articles 11, fraction II,

relative

to

the

Individual

Accounts

that

will

be

assigned, and 13, fraction II subsection b), relative

to

the

Reassignment

of

Individual

Accounts

assigned

or

reassigned

that

are

not

registered of these general

provisions, consists of determining the percentages of assignment and reassignment for each Group of the total

Individual Accounts without registration that, in accordance with these general

provisions, must be assigned or reassigned to the Basic Investment Companies and to the Initial Basic Investment

Companies eligible for these purposes. For such purposes, for each Basic Investment Company and

Initial Basic Investment Company eligible of each Group, the percentages of assignment and

reassignment will be determined according to three factors, each of which has assigned a weighter. Said

factors are described below:

I. to V. ...

VI.

Regarding

the

Reassignment

of

those

Individual

Accounts

of

which

there

is

no

evidence

of

the

activities

carried

out

by

the

Administrator

to

locate

the

person

holder

of

the

assigned

or

reassigned

account,

the

following

will

be

followed:

In

each

Reassignment

process,

each

Administrator

may

not

again

receive

the

Individual

Accounts

of

which

it

did

not

have

evidence

of

the

activities

carried

out

to

locate

the

person

holder

of

the

assigned

or

reassigned

account.

In

this

way,

such

Individual

Accounts

will

be

Reassigned

to

the

rest

of

the

Administrators

whose

Basic

Investment

Companies

and

Initial

Basic

Investment

Companies

corresponding

are

found

in

the

third

that

records

the

highest

Net

Performance

Indicators

for

Assignment

and

Reassignment

according

to

the

following

formula:

Where:

: Percentage

of

Reassignment

of

the

j-th

Basic

Investment

Company

or

Initial

Basic

Investment

Company

eligible

of

each

Group,

without

considering

the

Investment

Company

of

the

Administrator

that

did

not

have

evidence

of

the

activities

carried

out

to

locate

the

person

holder

of

the

Individual

Accounts

assigned

or

reassigned.

: Percentage

of

Reassignment

of

the

j-th

Basic

Investment

Company

or

Initial

Basic

Investment

Company

eligible

of

each

Group,

without

considering

the

Investment

Company

of

the

Administrator

that

did

not

have

evidence

of

the

activities

carried

out

to

locate

the

person

holder

of

the

Individual

Accounts

assigned

or

reassigned.

: Number

of

Investment

Companies

belonging

to

a

Group,

eligible

to

receive

Individual

Accounts

in

the

process

of

Assignment

or

Reassignment,

without

considering

the

Investment

Company

of

the

Administrator

that

did

not

have

evidence

of

the

activities

carried

out

to

locate

the

person

holder

of

the

Individual

Accounts

assigned

or

reassigned. "

TRANSITORY

First. These modifications will enter into force the day after their publication in the Official

Gazette of the Federation.

Second. With the entry into force of these modifications, all provisions

that oppose them are repealed.

Mexico City, February 18, 2026.- The President of the National Commission of the Retirement

Savings System, Master Julio

César

Cervantes

Parra .- Rubric.

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