Regulated by
National Banking and Securities Commission

Regulated by
National Banking and Securities Commission

Regulated by
National Bonding and Insurance Commission

Regulated by
National Commission for the Pension System

In 1997 the Mexican pension system was transformed from a pay as you go into a private scheme of individual capitalization (defined benefit -DB– to defined contribution –DC-). The reform was implemented in order to face demographic challenges and ensure the financial sustainability of pensions.

Each worker owns an individual account in which contributions are mandatory for the employer, the government and the employee.

CONSAR is the National Commission for the Pension System and its fundamental task is to regulate and supervise the pension system (SAR). The system is made up by the workers’ individual saving accounts that, in turn, are managed by the pension fund managers called AFORE.

What does it mean that CONSAR regulates the AFORE

  • CONSAR sets the rules for the proper operation of the SAR.
  • It monitors the safety of the worker’s resources.
  • It supervises that the worker’s resources are invested according to the parameters and limits set by the Commission (investment system).
  • It foresees that AFORE provide the required information to each accountholder (for example, that AFORE send a statement of account three times a year).
  • It can impose fines and penalties to the AFORE in the event of noncompliance.

In sum, CONSAR does not only guarantee the proper operation of the SAR but it also supervises that the worker’s rights are respected by the AFORE.

Should you need further information, please contact:

Roberto Reynoso Valenzuela
Of. 5955 4759 (ext. 359)

CONSAR. Camino a Santa Teresa Núm. 1040, 2º Piso, Col. Jardines de la Montaña, C.P. 14210, Ciudad de México, México.