Speaker(s): Carmen Fernandez
In July 1997 a new pension scheme for workers affiliated to the Mexican Social Security Institute (IMSS) came into force. For twenty years the pension system has had adaptations and reforms in its operation. At its inception, the main reference was the Chilean pension system. However, the IMSS pension system has its own issues that make it complex, as well as unique in its type. The analysis will present a comparison of the pension system stipulated in the Social Security Law approved in December 1995, with subsequent reforms, as well as with its current operation.
Differences will be examined from a practical approach, The study aims to show the conditions that could not be foreseen in the implementation of the new pension scheme and that have led to adapt it in its operation. These conditions have included, among others, the transition process from defined benefit scheme to defined contributions, reliability of affiliate databases, participation of various government entities, and interpretations to the Law. Likewise, it will indicate the recommendations or adjustments that arise from the analysis developed, in the topics in which it is applicable.