Modifications to the General Provisions Applicable to Pension Plans — SHCP — MX

DOF: 02/05/2018

MODIFICATIONS to the General Provisions Applicable to Pension Plans

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Ministry of Finance and Public Credit.- National Commission for the Retirement Savings System.

MODIFICATIONS TO THE GENERAL PROVISIONS

APPLICABLE TO PENSION PLANS

The President of the National Commission for the Retirement Savings System, based on the provisions of articles 5, fractions I, II, III and XVI, 11, 12, fractions I, VIII and XVI, 82 and 83 of the Law of the Retirement Savings Systems; 27 fraction VIII, 170 and 190 of the Social Security Law; 54 of the Law of the Institute of Security and Social Services for State Workers; 99, 100, 101, 102, 103, 104 and 105 of the Regulations of the Law of the Retirement Savings Systems, and 1, 2 fraction III and 8 first paragraph of the Internal Regulations of the National Commission for the Retirement Savings System, and

CONSIDERING

That this Commission has the authority to issue and modify the General Provisions applicable to pension plans;

That in accordance with article 100, fraction V of the Regulations of the Law of the Retirement Savings Systems, actuaries who intend to be registered as authorized actuaries to audit pension plans must demonstrate to the satisfaction of this Commission that they have the required knowledge to perform the valuation of pension plans;

That with the aim of facilitating actuaries to demonstrate that they have the required knowledge to perform the valuation of pension plans, the evidentiary elements with which they can satisfy before this Commission the requirement referred to in article 100, fraction V of the Regulations of the Law of the Retirement Savings Systems are expanded;

That with this expansion of evidentiary elements, actuaries may demonstrate their knowledge to perform the valuation of pension plans through their experience; or alternatively, through the presentation of a document that certifies their technical knowledge in the valuation of contingent labor liabilities, issued by a professional college in the field of actuarial science that is a member of the International Actuarial Association (IAA in English), or issued by the Society of Actuaries (SOA in English), which includes, among the topics that have been the subject of a favorable examination, the valuation of contingent labor liabilities (retirement benefits);

That with the aim of keeping the applicable normative references up to date in matters of transparency and access to public information, the last part of Annex B of the General Provisions applicable to pension plans, published in the Official Gazette of the Federation on January 21, 2016, and modified on June 13, 2016, is updated;

That these modifications have the sole purpose of expanding the options for actuaries who intend to obtain their registration before this Commission, as well as updating the legal legends regarding personal data protection, without generating additional administrative burdens or obligations; has deemed it appropriate to issue the following:

MODIFICATIONS TO THE GENERAL PROVISIONS

APPLICABLE TO PENSION PLANS

ARTICLE FIRST.- Article 7 of the General Provisions applicable to pension plans, published in the Official Gazette of the Federation on January 21, 2016 and modified on June 13, 2016, is modified to read as follows:

Article 7.- ...

...

For the applicant actuary to demonstrate, in accordance with fraction V of article 100 of the Regulations, that they have the required knowledge to perform the valuation of pension plans, they must demonstrate to the Commission any of the elements listed below:

Have experience in the valuation of contingent labor liabilities, which may be demonstrated through certificates issued by governmental or private entities within the three years prior to the submission of their application, in which it is demonstrated that the applicant actuary has certified or has been directly responsible for the valuation of contingent labor liabilities;

II.

Demonstrate their technical knowledge in the valuation of contingent labor liabilities, through a document issued by:

A professional college in the field of actuarial science that is a member of the International Actuarial Association (IAA in English);

A professional college in the field of actuarial science that is registered before the Ministry of Public Education, and which has been granted recognition of suitability as an auxiliary in the supervision of professional practice in the professional certification modality, or

The Society of Actuaries (SOA in English), which includes, among the topics that have been the subject of a favorable examination, the valuation of contingent labor liabilities (retirement benefits).

In the event that the actuary obtains the corresponding registration from the Commission, they must keep updated during the validity of the same, if applicable, the certificate they presented; otherwise, the registration granted to them will be suspended.

...

ARTICLE SECOND.- The last part of Annex B of the General Provisions applicable to pension plans, published in the Official Gazette of the Federation on January 21, 2016 and modified on June 13, 2016, is modified to read as follows:

ANNEX B

National Commission for the Retirement Savings System

Application for Registration and/or Revalidation of Authorized Actuary

Registration Number: _______________________________________

I. PERSONAL DATA

First Name(s)

Paternal Surname

Maternal Surname

Tax ID (RFC)

Population Registry Code (CURP)

EMAIL ACCOUNT

Phone

Mobile

Address:

Street

Exterior Number

Interior Number

Neighborhood or

Human Settlement

Postal Code

Municipality or Delegation

City

State

II. PROFESSIONAL DATA

Professional License Number

Postgraduate Studies

Certification Number that accredits them as

Expert Valuer in Contingent Labor

Liabilities valid:

(Issued by a professional college

authorized by the SEP)

Member of the professional college since

Professional college that issues the

certification that accredits them as Expert

Valuer in Contingent Labor

Liabilities:

III. LABOR DATA

Independent Professional (Yes/No)

Are you an employee or partner in any

company (Yes/No)

Company Data (in case of being an employee or partner in any company)

Name or Trade Name:

Company Address:

Street

Exterior Number

Interior Number

Neighborhood or Human Settlement

Postal Code

Municipality or Delegation

City

State

Phone

Position or post held:

Date of Entry to the company:

Under oath, I declare that I do not have an employment or economic relationship, nor am I a shareholder or debtor of the entities to be valued, or of any or some of the societies controlled by them or of entities that are part of the Financial Groups of which the aforementioned entities to be valued are part, nor am I subject to a process, nor have I been convicted of a property crime that merits a penalty of deprivation of liberty. I declare that I am not an employee of the Mexican Social Security Institute, the Institute of Security and Social Services for State Workers, the National Fund for Housing Workers for the Institute, the Ministry of Finance and Public Credit, the National Commission for the Retirement Savings System, the National Commission of Insurance and Sureties, the National Banking and Securities Commission or the Bank of Mexico. Likewise, I make it known that I am aware of the civil, penal, administrative, or any other nature actions, to which I may be entitled in case of having declared false information in this Annex.

I request that all data, documents and information presented to this Commission by physical means or through the Electronic Registry of Actuaries be considered confidential in terms of the current regulations applicable in matters of transparency and access to public information.

Place and Date: _________________________ ___________________Signature: ______________________

Annex B (Submit in duplicate)

TRANSITORY

SOLE.- These modifications will enter into force on the next business day following their publication in the Official Gazette of the Federation.

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

Mexico City, April 23, 2018.- The President of the National Commission for the Retirement Savings System,

Carlos Ramírez Fuentes.- Rubric.

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