The Pension Fund for Welfare Committee holds its first session

In the session, the Technical Committee also approved the Investment Regime of the Fund so that the administration of the resources that comprise it is carried out in accordance with the following main objectives: 1) cover the liquidity needs required to comply with the purposes of the Fund; 2) seek the preservation of capital of the Fund’s assets in real terms; and 3) generate returns, to the extent possible, that contribute to increasing the assets of the Fund, subject to prudent risk management.

On the other hand, the Technical Committee approved the Work Plan for fiscal year 2024, as well as the guidelines to avoid conflicts of interest of the Bank of Mexico when it carries out operations with itself, in its role as Central Bank and as Trustee of the Fund; In this regard, the highest ethical standards and professional principles that Banco de México maintains for its own operations will be observed.

Likewise, the Technical Committee took note of the methodology for calculating reserves to ensure returns to holders of inactive accounts who request them, presented by the aforementioned institutes to comply with their obligation to guarantee the imprescriptibility of workers’ rights over their resources.

The session was also attended by Alejandra Cañizares Tello, head of the Budgetary Policy and Control Unit of the SHCP; Fernando Renoir Baca Rivera, head of the Coordination Unit with Federal Entities of the SHCP; Claudia Álvarez Toca, General Director of Comptrollership and Risk Management of the Bank of Mexico; Fabrizio López Gallo Dey, General Director of Financial Stability of the Bank of Mexico; Joaquín Rodrigo Cano Jauregui Segura Millán, director of Operations Support at the Bank of Mexico, and Héctor Santana Suárez, head of the Insurance, Pensions and Social Security Unit of the SHCP.

In addition, Julio César Cervantes Parra, president of the National Commission of the Retirement Savings System; Bertha María Alcalde Luján, General Director of the ISSSTE, Carlos Martínez Velázquez, General Director of INFONAVIT and Mauricio Hernández Ávila, Director of Economic and Social Benefits of the IMSS; Erik Mauricio Sánchez Medina, Legal Director of the Bank of Mexico, in his capacity as Secretary of Minutes of the Technical Committee, and Edgar Miguel Salas Ortega, Manager of Legal Instrumentation also of the Bank of Mexico, as Pro-Secretary. Gerardo Israel García López, head of the Technical Secretariat of the Fund and General Director of Central Banking Operations of the Bank of Mexico, as Permanent Guest at the Committee sessions.

Finally, in terms of transparency, the Technical Committee approved the publication every quarter of a report on the Fund’s activities for accountability purposes.

For this purpose, the Pension Fund for Welfare makes the following Internet page available to the public to publicize its activities: https://www.fpbienestar.org.mx