|
Retirement Savings Administrators (Afores) |
The Afores are dedicated exclusively to administering the individual accounts of workers, channeling the funds to sub-accounts constituted according to the social security laws. They also administer investment companies specialized in retirement funds (Siefores).
Investment companies specialized in retirement funds (Siefores)
The Siefores are entities managed and operated by the Afores. Their main purpose is to invest, exclusively, the resources from the workers' accounts they receive, according to the social security laws.
The Afores as well as the Siefores are supervised by the National Commission for the Retirement Savings System (CONSAR) and regulated by the Retirement Savings Systems Law. Banco de México issues rules and regulations by which the Siefores must abide. |
|