Regulatory Alerts2021-10-26 | DOF 5633690Added · Updated
Modifications to the Agreement of the Board of Directors of the National Commission for the Retirement Savings System Regarding Commission Policies and Criteria
The National Commission for the Retirement Savings System (CNAR) modifies its agreement on commission policies to establish a simplified methodology for calculating the maximum commissions that Retirement Fund Administrators (AFOREs) may charge, aligning with OECD standards and enabling comparison with Chile, Colombia, and the United States. The CNAR Board of Directors will annually review commission charges in these three countries using data available through the end of September and publish the maximum commission rates by the last business day of October for the following calendar year. The document specifies the calculation of implicit balance commissions and provides 2020 asset and income data for Chile and Colombia to determine equivalencies. These modifications entered into force on October 22, 2021, with the maximum commission rates first published by the last business day of October 2021.
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