Economy & Business - January 2021

MEXICO: Pension reform welcome but concerns remain

The reform of the pension system first announced by Mexico’s President Andrés Manuel López Obrador last July came into force on 16 December 2020, when it was published on the official gazette (DOF). The reform bill was unanimously approved by the Mexico’s federal senate on 9 December 2020, after it was voted by a majority of representatives in the federal chamber of deputies on the same day. Mexico’s federal congress is dominated by López Obrador’s Movimiento Rgeneración Nacional (Morena) party. So, it was no surprise that the bill was approved by both chambers so swiftly and without fully addressing the various objections raised against it by the political opposition and business and civil society organisations.

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