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Mexico: Mexico Implements Reforms to Mandatory Individual Account Program

www.ssa.gov: 01/01/2021

On January 1, Mexico's government implemented reforms to the country's mandatory individual account pension program that include increasing employer contributions, adjusting government contributions, reducing the minimum contributions required for an old-age pension, boosting the guaranteed minimum pension, and capping administrative fees. The government estimates that the reforms will increase future pensions by an average of 40 percent. (The pension increase could be as high as 103 percent for lifelong minimum-wage workers.)

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22.09.2021