OECD Reviews of Pension Systems: Mexico

image of OECD Reviews of Pension Systems: Mexico

This review assesses the Mexican pension system according to the OECD best practices and guidelines, and draws on international experiences and examples to make recommendations on how to improve it. It provides an international perspective on Mexico’s retirement income provision and a short and focused review of the Mexican pension system. The review covers all components of the pension system: public and private pension provision for public and private-sector workers. It provides recommendations, using OECD’s best practices in pension design, on how to improve the Mexican pension system and thus ameliorate the retirement income that people may receive from the pension system.

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Improving the design of the accumulation phase in the Mexican pension system

This chapter focuses on the accumulation phase of the funded defined contribution part of the Mexican pension system. It looks at the different investment strategies adopted by pension plans (SIEFORE) within the framework of the multi-funds age-related scheme. It also discusses the impact of existing investment restrictions, issues related to fees charged to members and the different approaches implemented to increase competition and reduce fees, risk-based supervision, governance and regulation. The chapter concludes with some recommendations that allow more choice on investment strategies, address high charges and increase competition among pension funds (AFORE).


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