Modifications and Additions to the General Provisions on Operations of Retirement Savings Systems

DOF: 13/09/2019

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS ON OPERATIONS OF RETIREMENT SAVINGS SYSTEMS

A seal with the National Coat of Arms appears at the margin, stating: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Commission for the Retirement Savings System.

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS ON OPERATIONS OF RETIREMENT SAVINGS SYSTEMS

The President of the National Commission for the Retirement Savings System, based on what is provided in Articles 1, 2, 5 fractions I, II, III, IV, VI, VII, XIII bis and XVI, 12 fractions I, VI, VIII and XVI, 18, 18 bis, 19, 20, 21, 25, 26, 29, 30, 31, 36, 37, 37 A, 37 C, 39, 40, 41, 43, 47, 47 bis, 53, 57, 58, 59, 64, 64 bis, 64 ter, 65, 70, 74, 74 bis, 74 ter, 74 quáter, 74 quinquies, 76, 77, 78, 79, 80, 88, 89, 90 fractions II, IV and XIII, 91, 99, 111 and 113 of the Law of the Retirement Savings Systems; 167, 175, 176, 177, 179, 181, 182, 187, 188, 191 fraction II, 192, 195, 198 and 200 of the Social Security Law; 2nd, 13, 21, 26, 64, 76, 77, 78, 83, 87, 91, 93, 97, 98, 100, 101, 102, 105 fraction VII, 106, 108 fraction II, clause c, 119 and 123 fraction II, as well as Fifth, Seventh, Tenth, Eleventh, Twenty-second, Twenty-fourth, Twenty-fifth, Twenty-sixth and Twenty-seventh Transitional provisions of the Decree issuing the Law of the Institute of Security and Social Services for State Workers; 1st, last paragraph of 5th, 29 fraction II, 34, 38, 40, 43, 43 bis and Eighth Transitory of the Law of the National Housing Fund for Workers; 1st, 14, 15, 16, 23, 25, 28, 29, 30, 31, 32, 33, 34, 35, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 59, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93, 94, 95, 96, 97, 98, 106, 109, 110, 111, 112, 113, 114, 115, 116, 117, 118, 119, 120, 121, 122, 123, 139, 140 and 154 of the Regulations of the Law of the Retirement Savings Systems; 1, 2 fraction III and 8th first paragraph of the Internal Regulations of the National Commission for the Retirement Savings System, and

CONSIDERING

That as a result of technological advances, which allow identification validations with international security standards through remote means, this Commission considers it convenient to take advantage of such applications in the matter of Transfer procedures to continue simplifying them for the benefit of Workers and foster competition in the sector of Pension Fund Administrators (Afores);

That in connection with the exercise of its supervision and surveillance powers, this Commission detected various delays or operational incidents in the delivery of Certificates on Transfer Implications; a document that is necessary for Workers to exercise their right in an informed manner, and whose essential purposes are: to authenticate the Worker's will to carry out the requested Transfer, and to inform them promptly of the possible effects thereof;

That having verified the usefulness of the Certificates on Transfer Implications, translated into a greater number of positive transfers, that is, to Afores that offer a better Net Performance Index to Workers, which benefits them, this Commission designed a new scheme for their issuance and delivery, with the objective of further simplifying the Transfer procedure while always safeguarding the interest of Workers;

That after reviewing the model of the Certificate on Transfer Implications, it has been decided to replace it with a new figure called Transfer Knowledge Folio, which can be requested through non-presential channels, adding to the operating e-SAR portal the possibilities of the telephone route and the Mobile Application, in balance with security measures for the protection of Workers' information as well as with the proper authentication of their identity, while reducing times and costs and above all facilitating the Transfer procedure;

That the Transfer Knowledge Folio represents a significant advance in the evolution of the transfer procedure, since its processing is carried out through non-presential means to avoid Workers the wear and tear and expenses corresponding to waiting times and travel to obtain the certificate; as a result of this new scheme, the Worker's experience is improved integrally as a user of financial services in the field of retirement savings, and also generates benefits for Afores and Operating Companies due to savings in administrative management matters when emitting the aforementioned Folio electronically, dispensing with paper which also represents an ecologically sustainable option;

That to make the delivery of the Transfer Knowledge Folio more dynamic, it is necessary that the Operating Company be responsible for issuing it, which provides transparency, efficiency and avoids the generation of scenarios that could lead to bad practices among other Participants in the Retirement Savings Systems, benefiting in all respects the interest of Workers;

That to reduce the regulatory burden on regulated entities, various administrative requirements that interested parties must present to constitute an Afore or a Siefore are eliminated, since they no longer represent added value to the authorization process nor are they a sustainable option in ecological matters, therefore the delivery of simple copies and the pagination of same are specifically suppressed;

That to facilitate the operation of the new Investment Regime of Siefores based on Generational Funds, the rule establishing the disinvestment and transfer scheme to the Basic Pension Siefore of resources requested due to the exercise of the right to partial retirement due to unemployment is modified, so that these are directly disinvested from the Siefore in which they are originally located, this to facilitate the operational procedure and avoid transfers between Siefores, which does not generate added value, and

That to comply with what is established in Article 78 of the General Law of Regulatory Improvement, as well as in Article Fifth of the "Agreement that sets the guidelines that must be observed by dependencies and decentralized organisms of the Federal Public Administration, regarding the issuance of general administrative acts to which Article 69-H of the Federal Administrative Procedure Law applies", the simplification carried out in Articles 168 fraction IV, 177 first paragraph and 180, fraction III, clause a) and its seventh paragraph of these modifications and additions must be considered, the remaining simplified obligations will be used subsequently in the issuance of various regulations, has deemed it appropriate to issue the following:

MODIFICATIONS AND ADDITIONS TO THE GENERAL PROVISIONS ON OPERATIONS OF RETIREMENT SAVINGS SYSTEMS

ARTICLE FIRST.- The "Annex M" of the list of annexes, and Articles 8, fraction IV; 9, fraction VII, and clause a); 27; 51, first paragraph; 112, second paragraph; 165, fraction II; 166; 168, fraction IV; 173 fraction V; 177, first and last paragraphs; 177 bis; 178; 179; 180; 181; 189, fractions VII and IX, 429, second and fourth paragraphs, Annex M in its denomination and its fraction III and the Eighth Transitory Article of the General Provisions on operations of the retirement savings systems published in the Official Journal of the Federation on December 28, 2015, with its modifications published in said Journal on August 25 and October 18, 2016 as well as July 4, 2017; Articles 1, fraction LXXII bis, 181 bis and 181 ter are added; as well as Articles 35, fraction II, clause c); 189, fraction VIII, and Annex F are repealed, all of the General Provisions on operations of the retirement savings systems, published in the Official Journal of the Federation on December 25, 2015, modified and added, through publications in the same official dissemination organ on dates April 21, June 29, August 25 and October 18, 2016, July 4, 2017 and November 16, 2018, March 20 and June 18, 2019, to remain in the following terms:

...

" LIST OF ANNEXES

Annex "A" to Annex "E". ...

Annex "F" (Repealed)

Annex "G" to Annex "L" ...

Annex "M" Characteristics that Administrators and Operating Companies must observe to provide services related to Transfer Knowledge Folios

Annex "N". ... "

" Article 1. I to LXXII ...

LXXII bis.

Transfer Knowledge Folio, singular or plural, to the unique folio assigned by Operating Companies at the worker's request, with which the same worker confirms that he/she has knowledge of the possible effects derived from the transfer of his/her Individual Account, in accordance with what is provided in these general provisions;

LXXIII to CLXIV. ... "

" Article 8. ... : I. to III. ... ;

IV. Service for requesting the Transfer Knowledge Folio referred to in Article 180 of these general provisions, and

V. ...

... "

Article 9. ... : I. to VI. ... ;

VII. Request for the Transfer Knowledge Folio referred to in Article 180 of these general provisions;

VIII. to IX. ...

...

...

a) Authenticate the identity of Workers who enter the E-SAR with the Authentication Factor category 2 referred to in fraction II of Annex B of these general provisions; such authentication shall only be applicable for those services related to the disposition of resources for marriage expense assistance, Partial Retirement due to Unemployment and those for the disposition of resources referred to in Article 406 of these general provisions, as well as for those services that require a minimum level of authentication in terms of the Transactional Procedures Manual. Regarding the issuance of the Transfer Knowledge Folio, such authentication shall be carried out through Authentication Factors category 2 and 3 of Annex B of these general provisions, with the purpose of guaranteeing that it is the Worker himself/herself who carries out the procedure.

b) to f) ...

... "

" Article 27. Applicants wishing to organize and operate an Administrator must present an Authorization Request, in accordance with what is established in Article 19 of the Law. Such Authorization Request and its annexes must be presented before the Commission in original, as well as in four copies contained entirely in Electronic Media.

Likewise, Applicants must present the Authorization Request for Investment Societies that they wish to constitute, organize and operate, in accordance with what is established in Articles 40 and 41 of the Law. The Authorization Request and its annexes must be presented in original, as well as in four copies contained entirely in Electronic Media.

Authorization Requests must be signed by the legal representative of each Applicant, who must indicate a domicile within national territory to hear and receive any type of notifications, their phone number, and the persons authorized to hear and receive notifications. "

" Article 35. Authorization Requests must contain the information indicated below:

I. ...

II. ...

a) ...

b). ...

c) (Repealed)

d) ...

III. ...

IV. ... "

" Article 51. In the case of Authorization Requests by Administrators to organize and operate an Additional Investment Society, they must present an Authorization Request in original, as well as in four copies contained entirely in Electronic Media, with the information indicated below:

I. to III. ... "

" Article 112 ... Operating Companies must integrate a database in which the data and information of Workers' Individual Accounts are registered, which, to transfer their Individual Account, require requesting said Operating Companies the Transfer Knowledge Folio referred to in Article 177 next. Operating Companies must update said database monthly.

...

... "

" Article 165. ...

I. ...

II. If Workers holding Individual Accounts require requesting the Folio referred to in Article 177 next;

III. to VI. ...

...

... "

" Article 166. Operating Companies must update in the National SAR Database the information of Workers' Individual Accounts that require presenting the Transfer Knowledge Folio, in accordance with fractions II, III and V of Article 177 next, no later than the sixth business day of each month, with a cutoff date of the last day of the immediately preceding month.

To this effect, Administrators, no later than the fifth business day of each month, must send to Operating Companies the information of Workers' Individual Accounts that, in accordance with fractions II, III and V of Article 177 next, require presenting the Transfer Knowledge Folio, with a cutoff date of the last day of the immediately preceding month. "

" Article 168. ...

I. to III. ...

IV. In its case, obtain the Transfer Knowledge Folio, according to the circumstances provided for in Article 177 of these general provisions ,;

V. to VIII. ...

... "

" Article 173. ...

I to IV. ...

V. In its case, the Transfer Knowledge Folio;

VI. to X. ...

...

...

... "

" Article 177. To continue with the Transfer procedure, Operating Companies must issue the Transfer Knowledge Folio, in which it is stated that the Worker knows and is aware of the possible effects derived from the Transfer of his/her Individual Account to another Administrator, for which, Receiving Administrators must inform Workers that, to obtain said folio, it is necessary to request it through the means referred to in Article 180 of these provisions when Workers are in any of the following circumstances:

I. to IV. ...

V. ...

The Transfer Knowledge Folio referred to in this fraction shall be exigible only when Transferring and Receiving Administrators have obtained the authorization referred to in Article 177 bis. "

" Article 177 bis . During the first twenty business days of each calendar year, Administrators may request from the Commission the authorization to require the Transfer Knowledge Folio referred to in fraction V of Article 177 of these general provisions. The authorization granted, if any, shall have a validity of twelve months, being renewable for equal periods.

Once granted, it shall be considered definitive and may only be revoked by the Commission.

Administrators that obtain the authorization of this Article may only require the Transfer Knowledge Folio referred to in fraction V of Article 177 of these provisions, from Administrators that also possess said authorization.

The Commission will notify Operating Companies of the name of Administrators that possess the authorization referred to in this Article, so that they can operate the reception of requests, and the issuance of the Transfer Knowledge Folio referred to in fraction V of Article 177 of these provisions. "

" Article 178. The Transfer Knowledge Folio aims to make Workers aware of the possible effects derived from the Transfer in the matter of Retirement Savings Systems, to provide them with the necessary elements to make an informed choice about the Afore that will administer their resources and shall have a validity of forty-five natural days, from the date of issuance. Only one Folio can be generated at a time, during the period in which it remains inactive according to Article 180 fraction II of these general provisions. "

" Article 179. Operating Companies must generate the Folio referred to in Article 177 above, based on the guidelines, criteria and characteristics established for such effect in the Transactional Procedures Manual, which must indicate the association that must exist between the assigned Folio; the date of request; and the personal identification data of the Worker and of the Individual Account, as well as that of the Receiving Administrator.

The Transfer Knowledge Folio assigned by Operating Companies must consist of a unique and unrepeated alphanumeric chain.

Operating Companies, no later than the next business day after generating the Transfer Knowledge Folio, must send to Transferring Administrators the information of the Folios issued referred to in this Article, indicating the means by which they were obtained in accordance with the criteria and characteristics established in the Transactional Procedures Manual.

Operating Companies must allow Administrators to consult the generated Folios from the moment of the sending referred to in the previous paragraph and for at least ten subsequent business days. "

" Article 180. For the issuance of the Transfer Knowledge Folio referred to in Article 177 of these provisions, Operating Companies must keep enabled the service for requesting Transfer Knowledge Folios, subject to the following:

I . Operating Companies must make available to Workers, in accordance with guidelines established in the Transactional Procedures Manual, the service to request the Transfer Knowledge Folio through telephone call in the Telephone Attention Center, on the E-SAR portal or the Mobile Application, for which they must:

a. Authenticate the identity of Workers who request the Transfer Knowledge Folio through telephone call, through the identification of the fixed or mobile number from which the call is made against the numbers contained in the National SAR Database and through an Authentication Factor category 1 referred to in fraction I of Annex B of these general provisions.

When the telephone number from which the worker communicates does not correspond to any telephone number registered in the National SAR Database for the same worker, according to the criteria determined in the Transactional Procedures Manual, Operating Companies must inform the Worker that to carry out the request for the Transfer Knowledge Folio it will be necessary to carry out the update of his/her phone according to the data update procedures referred to in these provisions. Once updated, the Worker can re-request the Transfer Knowledge Folio through telephone call.

In case the worker requests the Transfer Knowledge Folio through the Telephone Attention Center, this must ask the Worker to verbally confirm being in agreement with the possible effects derived from his/her Transfer, confirmation that must be stored and identified for purposes of supervision by this Commission;

b. Authenticate the identity of Workers who request the Transfer Knowledge Folio through the E-SAR portal using an Authentication Factor Category 3 referred to in fraction III of Annex B of these general provisions, which operates through a dynamic single-use code, which will be sent to the worker's registered cell phone, in accordance with what is stated in clause "f" below.

When the verification code entered by the worker in the cited portal, according to what is stated in clause "f" below, does not match the one sent by the Operating Company to the worker's registered cell phone, he/she cannot continue with the request for the Transfer Knowledge Folio and must start the procedure again and, if necessary, request data correction before the Administrator managing his/her account.

c. Authenticate the identity of Workers who request the Transfer Knowledge Folio through the Mobile Application, with the Authentication Factor category 3 referred to in fraction III of Annex B of these general provisions;

d. Inform the Worker, Online and in Real Time, the possible effects derived from his/her transfer according to the circumstances described in Article 177 of these general provisions;

e. Inform the Worker, Online and in Real Time, that the Administrator to which he/she is transferring has a higher, equal, or lower performance, depending on the case, compared to the Administrator that currently manages his/her individual account in accordance with what is established for this effect in the Transactional Procedures Manual;

f. In case the worker requests the Transfer Knowledge Folio through the E-SAR portal, he/she must ask the Worker, to confirm that he/she is in agreement with the possible effects derived from his/her Transfer through the use of the password with which he/she entered the E-SAR portal,

Operating Companies must send online and in real time a dynamic single-use verification code to the worker's registered cell phone so that he/she enters it as an element of identity authentication, and

g. In case the worker requests the Transfer Knowledge Folio through the Mobile Application, he/she must ask the Worker, to confirm that he/she is in agreement with the possible effects derived from his/her Transfer through the use of some biometric verification mechanism.

The Transfer Knowledge Folio generated through the Mobile Application can only be used by Receiving Administrators that have enabled the Transfer Knowledge Folios service in the Mobile Application.

II. Operating Companies must generate and send to the Worker the Transfer Knowledge Folio through a text message "SMS" or known as technology

" Push " to the worker's cell phone or email address, or, if the folio is requested through the Call Center, it will be provided through an automatic voice system, according to the text defined by the Commission for such effect; said Folio will be sent inactive and will be automatically activated on the eighth business day following its generation;

Administradoras must have in visible places of the branch, office, and corresponding Specialized Unit, as well as on the internet page or other Electronic Media of said Administradora, the procedure to request the Transfer Knowledge Folio.

Operadoras must maintain and make available to the Commission auditable logs containing the record of requests for Transfer Knowledge Folios that they generate, as well as the data provided by Workers, date and time of the requests, and any other information that is generated during the provision of the service. "

" Article 181. Operadoras, through the call center they administer, must provide Workers with the service of requesting Transfer Knowledge Folios in accordance with what is provided in Annex "M" and the procedures established for such effect. "

" Article 181 bis. During the period in which the Transfer Knowledge Folio is inactive, the Worker may request Operadoras to cancel their Transfer Knowledge Folio, through the channel through which they made the request or by a means of Category 3 authentication according to Annex B of these General Provisions; for which, Operadoras must validate the identity of the worker according to the same validations and premises established in article 180 of these general provisions.

Once the Transfer Knowledge Folio is cancelled, the Worker may request a new Folio in accordance with what is established in the previous article 180.

Operadoras must maintain and make available to the Commission auditable logs containing the record of cancellation requests for Transfer Knowledge Folios that they receive from Workers, as well as the data provided by Workers for such effect, the date and time of the requests, as well as any other information that is generated during the provision of the service. "

" Article 181 ter. Operadoras will cancel the Transfer Knowledge Folio at the request of the Worker in accordance with what is established in the previous article 181 bis, so said Folio will not be activated in accordance with what is established in Article 180, fraction II of these general provisions.

Operadoras, no later than the next business day after receiving notification of the request to cancel the Transfer Knowledge Folio, must send to the Transferring and Receiving Administradoras the information of the cancelled Folios referred to in this article, in accordance with the criteria and characteristics established in the Transactional Procedures Manual. "

" Article 189. ...

I. to VI. ...

VII. In case, that the Transfer Knowledge Folios referred to in the previous article 177 have been presented;

VIII. (Repealed)

IX. In case, that the Transfer Knowledge Folio is active and valid;

X. to XIV. ...

...

...

...

a. and b. ... "

" Article 429 . ...

Regarding Workers who opted for the benefit provided in article 191 fraction II inciso b) of the Social Security Law 97, Administradoras must liquidate and make available to Workers the resources that correspond once the Worker comes to request the payment of the monthly installment that corresponds, in accordance with what is provided in the previous article 428, in accordance with the instructions that have been indicated for such effect in the request for Partial Withdrawals for Unemployment.

...

Regarding the monthly installments of Partial Withdrawals for Unemployment that have been suspended in accordance with the last paragraph of the previous article 428, the reintegration of unpaid monthly installments must be carried out 30 business days after the date of the last partiality to which the worker had right according to the assumptions provided in the previous article 428. Likewise, Administradoras must inform the IMSS of the reintegration of unpaid monthly installments, through Operadoras, so that the IMSS carries out the reintegration of the corresponding contribution weeks.

... "

" ARTICLE EIGHT.- Administradoras may implement the use of electronic models to generate a folio that replaces the Account Statement Folio and the digitized image of the account statement in Transfer procedures, for such effect they may request from the Commission the authorization of said electronic models starting from the next business day after the publication of these provisions in the Official Journal of the Federation. The authorization that the Commission issues, if any, will have a validity of eighteen months, which may be renewed for equal periods, provided that the renewal request is presented by the interested Administradora twenty business days prior to the expiration date.

...

...

...

...

...

...

...

... "

" Annex "F"

(Repealed) "

" Annex " M " Characteristics that Administradoras and Operadoras must observe to provide services related to Transfer Knowledge Folios

I. to II. ...

III. The service of requesting the Transfer Knowledge Folio must be the first option in the menu of services offered to Workers;

IV. to VI. ... "

TRANSITORY PROVISIONS

FIRST .- These modifications and additions will enter into force 90 business days after their publication in the Official Journal of the Federation with the exception of the following:

I.

The modification to the Eighth Transitory Article of the General Provisions on operations of retirement savings systems published in the Official Journal of the Federation on December 28, 2015, with modifications published in said official communication instrument on August 25 and October 18, 2016, as well as July 4, 2017, will enter into force on the next business day after its publication in the Official Journal of the Federation:

II.

The modifications to articles 27, 35 and 51 of these general provisions will enter into force on the next business day after their publication in the Official Journal of the Federation;

III. During a period of 45 business days counted from the entry into force of these modifications and additions, Operadoras must continue providing the activation service and must continue accepting the Folio associated with the certificates on implications of the Transfer referred to in article 177 that is modified, which have been generated before the entry into force of these modifications and additions as a substitute for the Transfer Knowledge Folio, with the objective of avoiding violating the right of workers to freely choose the Administradora they wish;

IV.

The authorizations that the Commission had granted under terms of article 171 bis that is modified through these modifications and additions, will become void on the date of entry into force of these, that is, 90 business days after their publication in the Official Journal of the Federation. Administradoras that so determine, may request again the referred authorization according to what these modifications and additions establish, and

V.

The modification to article 429 of these modifications and additions will enter into force on the next business day after its publication in the Official Journal of the Federation.

With the aim that Administradoras carry out the technological and operational adjustments they require to comply with the modification of article 429 of these modifications and additions, they may continue applying until December 16, 2019, the procedure that was in force prior to the entry into force of the modification referred to in this fraction.

SECOND .- The electronic models to generate a folio that replaces the Account Statement Folio and the digitized image of the account statement in Transfer procedures, that have been authorized prior to the entry into force of the modification to the Eighth Transitory Article of the General Provisions on operations of retirement savings systems referred to in fraction I of the previous article, will maintain their operation during the term that has been established in their respective authorization letters.

THIRD .- With the entry into force of these modifications, all those provisions that contravene these are abrogated.

Mexico City, September 9, 2019. - The President of the National Commission for the Retirement Savings System, Abraham E. Vela Dib .- Rubric.

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