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Net Assets
Afores resources managed by the resources made up of individual accounts of workers over their own capital of the Administrators.
Net Assets Regime
Corresponds to the net assets over the accounting provision of committees, and is used to establish the limits of the investment regime Siefores.
AFORE
Administrator of Retirement Funds. Private financial institutions that manage retirement resources on behalf of workers.
Receiving AFORE
Afore that assumes the individual account management to a transfer.
AFORE transferring
Afore manage to stop the individual account of a transfer order.
Promotion Agent
Person who maintains a working relationship with an Afore and is authorized by the construction for the following activities: orientation, registration of individual accounts, marketing, health promotion and transfer applications. All promoters must be accredited by the construction through the examination and approval of the allocation of a number of Agent Promoter.
Voluntary Savings
Additional contributions to the binding used to supplement the resources for the pension, if the worker so decides. These contributions can be made in person at the Afores or you can ask the employer to be made through deductions from wages. Voluntary savings is not subject to minimum or maximum amounts and is capable of incentives and tax benefits set out in the Income Tax Law.
Voluntary savings solidarity (ISSSTE)
Savings per worker initiative with support from the Federal Government that is deposited in addition to their individual account for the increase in pension. For each dollar contributed by the holder, the Unit / employer agrees to contribute $ 3.25 pesos. Employees may contribute up to 2% of their basic salary to savings.
AIOS
Organizations International Association of Pension Funds Supervision, whose members are the supervisory systems: Argentina, Bolivia, Chile, Colombia, Costa Rica, El Salvador, Mexico, Panama, Peru, Dominican Republic and Uruguay.
Years of Service (ISSSTE)
Time during which an employee has worked for some agency or entity, accumulating rights to be counted in determining whether it is entitled to a pension under the defined contribution system provided for in Article Ten transient ISSSTE law.
Contributions
Resources that are deposited in individual accounts for each worker and that are binding. These contributions are tripartite in nature and contributing: the pattern, the Federal Government and the worker.
Additional voluntary retirement contributions
Additional amounts are deposited in individual accounts to supplement a pension or to be removed in a single installment at the end of working life. To remove these contributions, we must have a board resolution or a resolution of refusal issued by the IMSS pension.
Voluntary contributions in the short term
Additional amounts that can provide the employer or the employee via payroll, directly at the window or the Internet, same may be withdrawn from two to six months after the first deposit (depending on the Afore).
Long-term Voluntary Contributions
Additional amounts that can provide the employer or the employee via payroll, directly at the window or the Internet, same may be withdrawn after five years after the first deposit. Workers performing these contributions can make use of tax benefit.
Insurance
Company hired by the employee should choose the annuity, it will guarantee payment of a monthly pension for life.
Assignment
Process in which bills are assigned to workers after one year to start trading, did not choose Afore. The allocation is done CONSAR to one of the largest Afores Net Performance Index.
Notice of Baja (IMSS)
Notice that presents the company or the employer to the IMSS for the dissolution of the employment relationship with the employee, in this way, it ends the obligation of the employer to have it registered with the Social Security system.
Notice of Baja (ISSSTE)
Document issued by the ISSSTE is used to show that the worker is working on active and therefore no longer contribute to the Institute.
Banco de Mexico (Banxico)
Central Bank of the Mexican State, constitutionally autonomous in its functions and management and aims to provide the economy of the national currency.
BANSEFI
National Savings Bank and Financial Services. Branches are BANSEFI PENSIONISSSTE windows through which workers with public Afore account that may make partial withdrawals and / or complete unification of accounts, request account statements and designation of beneficiaries or updating.
SAR National Database
Database comprised of information from savings schemes for retirement, containing information on individual worker and administrator registration or credit institution in each of them is affiliated.
Beneficiaries
Person or persons who are creditors to the pension and / or resources for the withdrawal of a worker in the event of his death. There are two types of beneficiaries and legal substitutes.
Legal Beneficiaries
According to IMSS Law provides that legal beneficiaries are the wife (o) of the insured (a) or absence of a partner who has lived for the past five years with or beneficiary and having children check as long as both remain free of marriage, children under 16 years, the children of the insured when they can not keep their own work because of illness or until the age of 25 when conducting studies in the National Educational System schools, ascending (parents) if financially dependent on the worker.
Substitute Beneficiaries
Persons may receive if the holder dies resources of the individual account solely to lack of legal beneficiaries. Beneficiaries are considered substitutes, any other legal beneficiaries.
Recognition Bond pension or bond (ISSSTE)
Instrument through which recognizes the years working ISSSTE workers who chose the system and defined contribution pension equivalent to retirement savings that had accrued for services rendered prior to 1 January 2008. The factors for calculating the bonus are: basic pay contributions, years of contributions and worker's age. This instrument will be counted as part of the individual account and will add to establishing the same amount as of January 2008, and that amount will be taken into account in calculating the pension. The bond is issued in Investment Units (UDI) and is reflected in the statement as both UDIS pesos.
CANASE
Insured National Catalogue of the Mexican Social Security Institute.
Worker affiliated to IMSS Calculator
Tool for workers who contribute to the IMSS, which allows to know the approximate savings to be had in the Afore at retirement. The calculation resulted in three scenarios: 1) considering the current contribution, 2) the difference would represent a Afore be offering a higher net return, and 3) considering voluntary contributions to increase the amount of the pension.
Independent worker Calculator
Tool that allows freelancers to know an approximate savings to be had in the Afore if made contributions to individual accounts. It also shows the difference in choosing one Afore to give a higher net return.
CAT-PENSIONISSSTE
Call Center Pension Fund of the State Service Workers (in Mexico City 17 May 19, 1955 and the interior of the Republic toll free 01 800 400 1000 or 2000 01.8004 million). It is the service that provides information on retirement savings of workers affiliated to the ISSSTE with individual accounts that public Afore.
Certification Afiliatorios Movement (IMSS)
Step by which a worker has two or more social security numbers (SSN), gives notice to the IMSS, in order unification. At the end of this process gives the worker a number of unique social security affiliation and it is found that the pattern has been made necessary contributions to the account linked to the correct number. This document is issued by the IMSS.
Lower Certificate of IMSS
Document issued by the IMSS used to show that the worker is working on working so it is no longer listed on the Institute. This document is required to perform the partial withdrawal of resources from the individual account concept of unemployment.
Share certificates
Debtors under the Securities Market Law, which represent the individual participation of their holders in a collective credit by legal entities, or assets in trust affection.
Personal Identification Number (CLIP)
Electronic signature that can verify the identity of workers for the use of online services offered by different administrations, through www.e-sar.com.mx page
Commission
Afores fee charged by the employee as payment for the service of shelter management and investment of resources in the individual account.
Investment Committee
Committee whose purpose is to identify policy and investment strategy and the composition of the assets of the company and appoint operators to implement the investment policy
Risk Committee
Committee that looks at managing the risks to which they are exposed, and overseeing the conduct of its operations comply with the limits, policies and procedures for risk management adopted by its board of directors.
Pension Concession
Document issued by the ISSSTE certifying that the employee is entitled to pension, it is essential to fulfilling the corresponding removal of SAR resources ISSSTE.
CONDUSEF
National Commission for the Protection and Defense of Users of Financial Services. Public body responsible for guidance, information and promote financial education and address and resolve complaints and claims by users of financial products and services.
CONSAR
System National Commission for the Retirement Savings. It is the authority that regulates and supervises the Savings for Retirement (SAR), and in particular to Afores.
Funds Management Agreement
Agreement by which an Afore undertakes to provide the resources management services to your individual account and also to purchase on behalf and for account and order of the worker, shares of an investment company (SIEFORE).
Individual Account
It is unique and personal account of every worker who is managed by the Afore. In it, over the life of the worker accumulates tripartite dues and contributions. Individual account consists of 3 major sub-accounts: Retirement, Severance and Ageing, Housing and Voluntary Contributions. The individual account is part of the heritage of each worker and is heritable.
Managed Accounts
Total number of accounts managed by the Afores.
Concentrating Account
Account operated by the Banco de Mexico, which are deposited to secure resources for Retirement, Severance and old age, under Social Security Law and the Voluntary Contributions and Supplemental Retirement Contributions, as carried out the processes of individualization for transfer to administrators elected by the workers, and to conserve the resources of those workers who do not choose Administrator.
Social Fee
The amount learned by the State to the individual accounts of workers equal to five point five percent of the general minimum wage for the Federal District.
CURP
Unique Key Population Register. It is a recording device that is assigned to all the people living in the country, as well as Mexicans living abroad. Responsible for allocating the CURP and issue the relevant record is the National Population Register (RENAPA).
Custodian
Institution in charge of safeguarding the physical qualifications in debt emissions nationally and internationally.
Entitled IMSS / ISSSTE
Worker quotes, pensioner and / or beneficiaries thereof, to / from one of these social security institutions receiving the benefits provided under the Act IMSS or ISSSTE, as applicable.
Derivative
Financial instrument that is linked to an underlying security or benchmark. Are hedge against price fluctuations in certain products, so that help reduce risks.
Foreign exchange
Dollars of the United States, euros and yen, as well as other foreign currencies under the general provisions relating to the investment regime.
Document Regime Choice 73 or 97 (IMSS)
Workers who were listed before and after 1 July 1997 the IMSS, have the right to choose, at the time of his retirement pension, IMSS Act 73 or Act 97.
Foreign Issuers
Governments, Central Banks and Government Agencies of member countries of the Technical Committee of the International Organization of Securities Commissions and the European Union and the institutions that issue securities under the regulation and supervision of these, as well as multilateral agencies.
National Issuers
The Federal Government, Bank of Mexico, private companies, states, municipalities, Federal District Government and Public Enterprises, emitting instruments, as well as financial institutions, to issue, accept or endorse those instruments.
Operating Companies
Concessionaires to operate the SAR National Database.
E-SAR
Internet portal that allows, through a PIN (CLIP), conduct electronic transactions such as: opening an account and transfer of Afore, and others.
Statement
Document issued by the Afores which contains information on the individual account balance as well as a summary of the movements of the account, the balance of resources of each of the sub-accounts: Retirement, Unemployment and old age, Voluntary Savings and Housing (which governs not only the housing fund Afore) and the comparative table of Afores by Net Performance Index (NRI).
FIBERS
Securities or securities issued by trusts that are engaged in the acquisition or construction of property in territory which is intended to lease or acquire the right to receive income from the lease of such property and to provide funding for these purposes.
Social Welfare Fund.
Pension funds or retirement of personnel, seniority premiums and savings funds established by private companies, federal agencies or public entities, state or municipal or any other person, working as a supply for workers.
FOVISSSTE
Housing Fund of the Institute of Security and Social Services for State Employees. Agency responsible for the granting of housing loans to workers in the service of the State.
Afores Fusion
Afore process where one absorbs another. Exceptionally, the merged Afore affiliates are entitled to remain in the fusional or switch to the Afore they choose.
Futures
Contract that requires the parties to buy or sell a number of goods or securities in the future with a previously established price.
Pink Sheet
It is the record sheet to the IMSS, where each worker is assigned a social security number (SSN). This sheet is named after the color of it and is now being replaced by an electronic credential that will simplify dealings with the Institute.
ICEF
Credit Institution or authorized financial institution. Banks that once managed the resources of workers.
IMSS
Instituto Mexicano del Seguro Social. Social security institution established as a public service to the workers affiliated to it, and their families.
INFONAVIT
Institute of the National Housing Fund for Workers. Institute responsible for providing funding to meet the housing needs of workers entitled.
Rating institutions
Institutions responsible for quantifying credit risk of an institution or a specific debt issuance by a grade.
Social Security Institutes
Social Security Institute, the National Housing Fund for Workers' Safety and Social Services for State Employees and the institutions of the same nature.
Securitized Instruments
Representing securities or receivables issued through vehicles and those whose underlying assets are receivables.
Equity instruments
Instruments (mainly stock indexes) that pay interest that varies according to their own performance over time.
Fixed Income Instruments
Debt financial instruments that pay a predetermined interest for a preset time. An example of such debt instruments are the Federal Government.
Structured Instruments
Values that guarantee their nominal value at maturity, and whose total or partial performance is linked to underlying assets giving rights held in trust on their fruits and products
Equity Index-Linked Instruments
The investment regime of the Afores allows the purchase of stock indexes and not direct action to further refine the risk in such equities.
IPC
National Index of Consumer Prices. Indicator by which reports the evolution of the price level of goods and services consumption in Mexico, which constitutes the official reference of inflation in the country.
ISSSTE
Institute of Security and Social Services for State Employees. Social security institution for workers employed by the State and their families.
ISSSTE-TEL
Call Centre (toll-free at 01,800,001 2007). It is a service telephone guidance and information to address questions about insurance, and allowances of workers employed by the State.
Award
It is the decision of a judicial referee used to resolve a conflict between two or more parties.
Law of ISSSTE
Legislation in force since 1 April 2007, by which they amended the social security scheme for workers in the service of the State and whose main reform is the implementation of the Pension System Benefit definite place in the defined contribution considering exception that occurs in Article Ten of transition.
Transaction Procedures Manual (MPT)
The manual Operating Companies to develop the SAR National Database and approves of the NOCs in which specifies the formats and characteristics of electronic records, reporting procedures of software transactions that constitute the flow of information between the entities participating in savings schemes for retirement.
Handicap
Decrease in the value of an asset or according to market conditions. It is a valuation at a point in time and completely circumstantial. In the case of funds for retirement is a decrease in the value of investments made by the SIEFORES. A disability does not mean that there is a loss.
Wage Amendment (IMSS)
Notice that the IMSS is presented by the employer the first five days of January, March, May, July, September and November when the employee has a salary increase or a change in the remuneration received for work performed.
Establishing Amount
The amount of money required to hire insurance and Survival Annuity, where appropriate, with one insurer.
Notes
Debt instruments and foreign debt securities with maturity linked main protected by one or more of the indexes as well as the outcome of joint structures for debt instruments or securities Foreign Debt with Equity Component to behave such as debt securities or debt securities Foreigners, with main protected at maturity linked to one or more of the indices.
Number of Social Security (IMSS)
11-digit number that serves as identification with the Mexican Social Security Institute and therefore is used to access the services provided by the Institute. This number is unique throughout the life of the worker and is not transferable. A worker who has more of an NSS should go to the IMSS to make the process of unification should be established to correct this situation.
Participants in Systems Retirement Savings
Credit institutions, managers of retirement funds, investment companies specializing in pension funds, operating companies, companies that provide complementary or ancillary services directly related to savings schemes for retirement and the recipient institutions.
Pension
Continued receipt amount that replaces the income of a person at the time of retirement or in case of disability, incapacity or death (in this case to the beneficiaries).
PENSIONISSSTE
National Pension Fund of the State Service Workers. It manages the individual accounts of workers affiliated to the ISSSTE from May 2008 and during the first 36 months of its existence, then compete openly with other Afores.
Guaranteed Pension.
Minimum pension to which a worker is entitled affiliated to IMSS or ISSSTE, after complying with the requirements of Social Security Laws.
Private Pension Plan
Voluntary scheme established by the employer or derived from a collective agreement which seeks to grant a pension to the workers assigned to the entity that designed the Private Pension Plan.
Time Weighted Average
Average investment periods considering switching positions in each instrument.
Price Management
Is obtained by dividing the net assets of an investment company, regardless of the accounting provision of the committees or commissions charged historically, the number of shares subscribed and paid.
Price Siefore
Price per share of an investment company,
Service Provider
Afore that provides the services of management of individual accounts to workers whose new income and resources for the retirement insurance, unemployment in old age and old age are in the Concentrator Account.
ISSSTE Loans
Appropriations from the fund for loans of this Institute, which are of two types: mortgage and personal. These loans can not exceed 50% of the total monetary worker perceptions and cleared through a discount biweekly payroll.
Provider Rates
Institution in charge of the valuation of instruments traded in different national and international markets.
Ramos assurance IMSS / ISSSTE
Each Social Security Institute covers various branches of insurance, to protect workers and their beneficiaries against different situations.
IMSS
1. Occupational hazards
2. Illness and maternity
3. Disability and life
4. Retirement, unemployment and old age in
5. Nurseries and social benefits
ISSSTE
1. Health
2. Occupational risks
3. Retirement, unemployment and old age in
4. Disability and life
RCV
Sub Retirement, Unemployment and old age. Here are deposited the fees and contributions that make the pattern, the federal government and the worker for the pension.
Managed Resources
Resources to manage the Afores and come from the contributions and resources of workers and the capital itself Afores. Also called total net assets.
Previous Amended Conditions
Established in Article Ten transient ISSSTE law itself that states the conditions for the withdrawal of workers employed by the State did not choose the System Defined Contribution Pension. This article presents gradual changes to the requirements that had been in force before 1 April 2007 in respect of withdrawal (for example, minimum retirement age rather than years of service).
Investment Regime
Toolkit and limits set by the Afores CONSAR by Circular 15-19 for the same basis, resources are invested workers.
RENAPA
National Register of Population and Personal Identification. Body responsible for issuing the Unique Key Population Registration (CURP).
Performance
Are gains or interest earned on the investment of resources by the Afores workers.
Gross Yield
Performance is obtained SIEFORES assets before payment of commissions.
Net Yield
Simple subtraction of the raw performance afforded by Afore less the commission charged. It is an indicator that compares the Afores each other.
Simple Average Net Yield
Simple sum of net income given by each of the Afores, divided by the number of Afores.
Weighted Average Net Yield
Weighted net return on net assets of the 5 SIEFORES
International Equities
Investments made in assets (stock indexes) from international broadcasters. These investments are made in markets with high levels of stability as the United States, France, England, Germany or Japan.
Annuity
Contract whereby an insurer will pay a monthly pension for life, that is for a lifetime. This pension is contracted with the resources accumulated in the worker's individual account. An employee entitled to a pension under the Social Security Act 1997 must decide between this benefit and retirement schedule.
Resolution Costs Help Marriage (IMSS)
This document issued by the IMSS guarantees that the worker meets the requirements to be a creditor to the partial withdrawal of resources from their individual accounts by way of support for marriage.
Refusal to Board Resolution (IMSS)
A document issued by the IMSS in reporting is not met the minimum requirements to obtain payment of a pension. In this case the resources of the individual account may be withdrawn in its entirety and in a single display by the worker or his beneficiaries.
Board Resolution (IMSS)
Document issued by IMSS by granting workers the right to a pension (for unemployment at advanced age, old age or early retirement, employment injury or disability and life) and therefore it is necessary to begin the process of granting pension IMSS either before or directly with the Afore.
Retirement Unemployment
Partial withdrawal of account resources individual requesting the 46 days of unemployment. Call for an appointment to the Certification Afore Baja issued by IMSS to the recall.
Marriage withdrawal
Partial withdrawal of resources from the individual account that can be applied to the IMSS as long as the marriage has been held at a date later than 1 July 1997. It should go to the Afore with the resolution of Help Marriage Expenses issued by IMSS to the recall.
Partial Withdrawals
Withdrawals from the individual account that may be available in two exceptional situations: in case of marriage (just once in life) and unemployment (once every five years).
Scheduled Withdrawal
Contract by which the Afore takes the individual account balance and make an estimate of life expectancy of the employee, thereby determining the monthly payment that is entitled for the years covered. An employee entitled to a pension under the Social Insurance Act 1997 must decide between this benefit and the annuity.
Total Recall
When you make a total withdrawal of resources from the individual account of either one Afore pension negative (in which case the money will be awarded in a single display) or by way of pension.
RFC
Federal Registry of Taxpayers. 13 digit key issued by the SAT, which has any natural or legal person is the taxpayer.
Market Risk
Loss on investment may be incurred due to the difference in prices recorded in the markets or risk factors such as interest rates, exchange rates etc.
Credit Risk
Potential loss product of counterparty default in an operation that includes a commitment to pay.
Liquidity Risk
It refers to the inability to convert assets or portfolios in cash. It also refers to losses that may have an institution in the cost of resources needed to finance its assets.
Base Salary Contribution (IMSS)
Integrated with the daily wage for a worker is registered with the IMSS and used to calculate the fees that the employer must pay the Institute and the benefits they are entitled, including contributions to individual accounts.
SAR
Saving for Retirement. It is based on individual accounts which help the worker, the employer and the Federal Government. Each employee becomes entitled to a pension at the end of working life in terms of the amount accumulated in their individual accounts.
SAR 92
Period accumulated contributions by IMSS workers between March 1, 1992 and June 30, 1997. The resources for this period were deposited in the bank who was elected at the time by each employer and governed by the laws of the IMSS and INFONAVIT. The resources of this period can be transferred to the individual account provided that has the corresponding bank receipt.
SARTEL
Call Centre 50 00 01 800 747 (toll free), where there is a personalized way workers on issues related to the System of Saving for Retirement.
SAT
Tax Administration Service. Decentralized body of the Ministry of Finance and Public Credit is responsible for implementing the tax and customs laws and collect federal taxes and control the flow of goods from the country.
Disability and life insurance
Insurance provided by the employer to the worker's name to protect against risks that will disqualify him physically or mentally, or their beneficiaries in case of death of the holder, for reasons beyond the performance of their duties.
Job Hazard Insurance
Insurance that protects the worker against accidents, illness or death to those exposed in or in connection with the work they perform. This insurance provides medical care and where appropriate, payment of a pension for inability to discharge his duties, or grant a pension to the beneficiaries in case of death of the holder.
Survival Insurance.
Whoever is hired by an insurance pensioners to provide for the pension beneficiaries, welfare aid and other cash benefits under the respective insurance by the income that will be given after the death of the pensioner, to the legal termination pensions.
Weekly payments
Time quoted a worker at the IMSS, those weeks are rights that the employee will accrue, to be entitled to a pension from the Institute. The number of weekly payments on behalf of each worker is determined solely by the IMSS.
Separation of Accounts
Process where two or more workers receiving benefits to the same social security number (SSN), go to the IMSS to apply for separate accounts. The Institute will issue the final NSS for each worker and will be transferred the rights and remedies that apply to each of them. Employees can share their SSN with another for any of the following reasons: 1. Homonymy (where paternal surnames, maternal and name are identical), 2. Invasion by a third party (when in error, the IMSS provides two workers NSS), or 3. Invasion per beneficiary (when two relatives mistakenly listed at the same NSS IMSS).
Services
Services that provide workers Afores as the receipt, administration, investment of resources, sending statement and additional ones such as sending information via Internet, telephone service, number of branches, balance inquiry through a credit card electronics, among others.
SHF
Federal Mortgage Society. Financial institution owned by the Development Bank which aims to support access to housing for Mexicans through mortgage programs operated by Limited Purpose Financial Companies (SOFOLES).
SIAP
Information System for the Commission Promoting Agents available to the general public for consultation and verification of records and data related to promoting agents.
SIEFORE
Investment Company Specializing in Retirement Funds. They are investment funds which invest Afores resources to generate income workers. There are five different SIEFORES according to the age of each worker.
SIRI
Receiving System Information. System driven by the human resource areas of each Unit of the Federal Civil Service, through which are updated and modify data in the workers affiliated to the ISSSTE.
System Defined Benefit Pension
System under which both workers and employers contribute to a "global exchange" of the Federal Government used to finance pensions for those who chose this system. Regardless of the contributions made to your name, if the employee meets the requirements of the legislation that the standard (eg, years of service), receives a pension according to the formula shown in the corresponding Law Institute, hence the name "defined benefit".
System Defined Contribution Pension
Pension system characterized by the existence of an individual account whose owner is the employee, in which the contributions are deposited in his name, by itself, by the employer and the federal government by way of saving for retirement. These resources comprise the amount establishing individual accounts.
Housing Sub
Sub-account to which only the employer makes contributions equivalent to 5% wage contribution base. The INFONAVIT in the case of IMSS workers, and if FOVISSSTE ISSSTE workers are those who collect and administer the contributions made by the concept. The report Afores only comply with the balance reported by these institutions through the Statement.
Quote Basic Salary (ISSSTE)
Salary monthly rate with which a worker is registered with the ISSSTE and serves for calculating contributions and benefits among which are those relating to retirement.
Affiliate Workers
Contributors to IMSS workers who registered voluntarily in an AFORE
Employees Assigned to Certification
Contributors to IMSS workers who, having been assigned by the construction, signed a record contract in any AFORE
Assigned Workers without Certification
Workers, not been recorded in some Afore, were assigned by CONSAR according to regulations.
Workers in transition
Workers who contribute to the IMSS before and after July 1, 1997, so at the time of his retirement, given a choice IMSS pensions under the scheme 73 (distribution system) or, the system 97 (accounts individual).
IMSS workers
Are workers at check-in Afore quoted at IMSSS.
Independent Workers
Workers not listed or the IMSS or ISSSTE but have the possibility of opening a savings account for retirement in any Afore voluntarily.
Workers ISSSTE
Are workers at check-in Afore quoted at ISSSTE.
Registered Workers
It is for workers who were entered into an Afore, ie workers who signed a contract with one Afore to manage resources that your individual account. Includes the accounts of workers who, despite having been assigned once signed their record contract in any administrator.
Transfer
Changing one Afore to another by the worker. The transfers are to maintain healthy competition in the Savings for Retirement as the Afores compete for the commission and service income. Workers may change Afore only once a year to the Afore of your choice and once more (ie, maximum twice a year), if a higher Afore Net Performance Index.
Transfer Siefore
When an employee reaches the age limit for five different groups of Siefore, there will be a transfer of resources to Siefore corresponding to the new age of the worker.
Accumulated transfers
Net temporary transfers (orders) and received (earned) in the system for a specified period.
Leased Warehouses
Afore accounts that loses in a given period.
Transfer Abuse
The transfer of the worker's individual account is performed so but not limited to the one AFORE without his consent; or has obtained the consent of the employee by fraud, coercion, intimidation, threats or any other similar conduct , or when the transfer is carried out by using forged or altered documents or by forging documents or signatures, or in cases where the AFORE, acting in agreement with the employer or his representatives or any another person who can put pressure on the worker, get your registration in exchange for the delivery of an amount of money, or providing any service, or grant any benefit or compensation of any kind in favor of the employer or its representatives, and in cases where the AFORE obtain the worker's record in exchange for payment of a sum of money, or providing any service, or the granting of any benefit or compensation of any kind, contrary to cleared, in favor of it.
Transfers Received
Accounts of workers earning an Afore in a given period.
UEAP
Specialized Care Unit to the Public. Are modules of information are there in each Afores to assist workers who inquire about their individual accounts or any transaction related thereto.
Unification of Accounts (IMSS)
Process that responds to that on some occasions, the IMSS provides more than a social security number (SSN) to a single worker, which means that the worker will have both their resources and their rights, under different NSS. To resolve the anomaly, the worker must go to the IMSS to apply for certification Afiliatorios movements in which the IMSS decide which of the NSS on behalf of the worker is permanent or a "unifier." Once assigned this number will cancel the other NSS of the worker and all its resources and rights transfer to the unifying NSS.
Unification of Accounts (ISSSTE)
ICEF - ICEF
The process by which they unite the resources of a worker who has more than one account SAR-ISSSTE, in one or more banks. These funds go to a single account. In general, unifying account is one where the last contributions were made, or which is active at the time of unification.
ICEF - AFORE
The process by which they unite the resources of a worker who has a SAR-ISSSTE account at a bank and at the same time, an individual account in a Afore for reasons such as: a) have contributed or are quoting the IMSS or, b) have opened an individual account for Voluntary contributions. SAR-ISSSTE resources go to the individual account that worker in the Afore.
Value at Risk (VaR)
The disability that may have net assets of an investment company, given a certain level of confidence in a given period.
Government Securities
Debtors issued by the Federal Government. The government sells securities specified time frames and undertakes to pay a premium (interest) at the end of them.
National Securities
Investment alternatives with high safety standards that are made in debt issued by the Federal Government in Mexico. Examples of such securities are bonds issued by the Bank of Mexico.
Afores resources managed by the resources made up of individual accounts of workers over their own capital of the Administrators.
Net Assets Regime
Corresponds to the net assets over the accounting provision of committees, and is used to establish the limits of the investment regime Siefores.
AFORE
Administrator of Retirement Funds. Private financial institutions that manage retirement resources on behalf of workers.
Receiving AFORE
Afore that assumes the individual account management to a transfer.
AFORE transferring
Afore manage to stop the individual account of a transfer order.
Promotion Agent
Person who maintains a working relationship with an Afore and is authorized by the construction for the following activities: orientation, registration of individual accounts, marketing, health promotion and transfer applications. All promoters must be accredited by the construction through the examination and approval of the allocation of a number of Agent Promoter.
Voluntary Savings
Additional contributions to the binding used to supplement the resources for the pension, if the worker so decides. These contributions can be made in person at the Afores or you can ask the employer to be made through deductions from wages. Voluntary savings is not subject to minimum or maximum amounts and is capable of incentives and tax benefits set out in the Income Tax Law.
Voluntary savings solidarity (ISSSTE)
Savings per worker initiative with support from the Federal Government that is deposited in addition to their individual account for the increase in pension. For each dollar contributed by the holder, the Unit / employer agrees to contribute $ 3.25 pesos. Employees may contribute up to 2% of their basic salary to savings.
AIOS
Organizations International Association of Pension Funds Supervision, whose members are the supervisory systems: Argentina, Bolivia, Chile, Colombia, Costa Rica, El Salvador, Mexico, Panama, Peru, Dominican Republic and Uruguay.
Years of Service (ISSSTE)
Time during which an employee has worked for some agency or entity, accumulating rights to be counted in determining whether it is entitled to a pension under the defined contribution system provided for in Article Ten transient ISSSTE law.
Contributions
Resources that are deposited in individual accounts for each worker and that are binding. These contributions are tripartite in nature and contributing: the pattern, the Federal Government and the worker.
Additional voluntary retirement contributions
Additional amounts are deposited in individual accounts to supplement a pension or to be removed in a single installment at the end of working life. To remove these contributions, we must have a board resolution or a resolution of refusal issued by the IMSS pension.
Voluntary contributions in the short term
Additional amounts that can provide the employer or the employee via payroll, directly at the window or the Internet, same may be withdrawn from two to six months after the first deposit (depending on the Afore).
Long-term Voluntary Contributions
Additional amounts that can provide the employer or the employee via payroll, directly at the window or the Internet, same may be withdrawn after five years after the first deposit. Workers performing these contributions can make use of tax benefit.
Insurance
Company hired by the employee should choose the annuity, it will guarantee payment of a monthly pension for life.
Assignment
Process in which bills are assigned to workers after one year to start trading, did not choose Afore. The allocation is done CONSAR to one of the largest Afores Net Performance Index.
Notice of Baja (IMSS)
Notice that presents the company or the employer to the IMSS for the dissolution of the employment relationship with the employee, in this way, it ends the obligation of the employer to have it registered with the Social Security system.
Notice of Baja (ISSSTE)
Document issued by the ISSSTE is used to show that the worker is working on active and therefore no longer contribute to the Institute.
Banco de Mexico (Banxico)
Central Bank of the Mexican State, constitutionally autonomous in its functions and management and aims to provide the economy of the national currency.
BANSEFI
National Savings Bank and Financial Services. Branches are BANSEFI PENSIONISSSTE windows through which workers with public Afore account that may make partial withdrawals and / or complete unification of accounts, request account statements and designation of beneficiaries or updating.
SAR National Database
Database comprised of information from savings schemes for retirement, containing information on individual worker and administrator registration or credit institution in each of them is affiliated.
Beneficiaries
Person or persons who are creditors to the pension and / or resources for the withdrawal of a worker in the event of his death. There are two types of beneficiaries and legal substitutes.
Legal Beneficiaries
According to IMSS Law provides that legal beneficiaries are the wife (o) of the insured (a) or absence of a partner who has lived for the past five years with or beneficiary and having children check as long as both remain free of marriage, children under 16 years, the children of the insured when they can not keep their own work because of illness or until the age of 25 when conducting studies in the National Educational System schools, ascending (parents) if financially dependent on the worker.
Substitute Beneficiaries
Persons may receive if the holder dies resources of the individual account solely to lack of legal beneficiaries. Beneficiaries are considered substitutes, any other legal beneficiaries.
Recognition Bond pension or bond (ISSSTE)
Instrument through which recognizes the years working ISSSTE workers who chose the system and defined contribution pension equivalent to retirement savings that had accrued for services rendered prior to 1 January 2008. The factors for calculating the bonus are: basic pay contributions, years of contributions and worker's age. This instrument will be counted as part of the individual account and will add to establishing the same amount as of January 2008, and that amount will be taken into account in calculating the pension. The bond is issued in Investment Units (UDI) and is reflected in the statement as both UDIS pesos.
CANASE
Insured National Catalogue of the Mexican Social Security Institute.
Worker affiliated to IMSS Calculator
Tool for workers who contribute to the IMSS, which allows to know the approximate savings to be had in the Afore at retirement. The calculation resulted in three scenarios: 1) considering the current contribution, 2) the difference would represent a Afore be offering a higher net return, and 3) considering voluntary contributions to increase the amount of the pension.
Independent worker Calculator
Tool that allows freelancers to know an approximate savings to be had in the Afore if made contributions to individual accounts. It also shows the difference in choosing one Afore to give a higher net return.
CAT-PENSIONISSSTE
Call Center Pension Fund of the State Service Workers (in Mexico City 17 May 19, 1955 and the interior of the Republic toll free 01 800 400 1000 or 2000 01.8004 million). It is the service that provides information on retirement savings of workers affiliated to the ISSSTE with individual accounts that public Afore.
Certification Afiliatorios Movement (IMSS)
Step by which a worker has two or more social security numbers (SSN), gives notice to the IMSS, in order unification. At the end of this process gives the worker a number of unique social security affiliation and it is found that the pattern has been made necessary contributions to the account linked to the correct number. This document is issued by the IMSS.
Lower Certificate of IMSS
Document issued by the IMSS used to show that the worker is working on working so it is no longer listed on the Institute. This document is required to perform the partial withdrawal of resources from the individual account concept of unemployment.
Share certificates
Debtors under the Securities Market Law, which represent the individual participation of their holders in a collective credit by legal entities, or assets in trust affection.
Personal Identification Number (CLIP)
Electronic signature that can verify the identity of workers for the use of online services offered by different administrations, through www.e-sar.com.mx page
Commission
Afores fee charged by the employee as payment for the service of shelter management and investment of resources in the individual account.
Investment Committee
Committee whose purpose is to identify policy and investment strategy and the composition of the assets of the company and appoint operators to implement the investment policy
Risk Committee
Committee that looks at managing the risks to which they are exposed, and overseeing the conduct of its operations comply with the limits, policies and procedures for risk management adopted by its board of directors.
Pension Concession
Document issued by the ISSSTE certifying that the employee is entitled to pension, it is essential to fulfilling the corresponding removal of SAR resources ISSSTE.
CONDUSEF
National Commission for the Protection and Defense of Users of Financial Services. Public body responsible for guidance, information and promote financial education and address and resolve complaints and claims by users of financial products and services.
CONSAR
System National Commission for the Retirement Savings. It is the authority that regulates and supervises the Savings for Retirement (SAR), and in particular to Afores.
Funds Management Agreement
Agreement by which an Afore undertakes to provide the resources management services to your individual account and also to purchase on behalf and for account and order of the worker, shares of an investment company (SIEFORE).
Individual Account
It is unique and personal account of every worker who is managed by the Afore. In it, over the life of the worker accumulates tripartite dues and contributions. Individual account consists of 3 major sub-accounts: Retirement, Severance and Ageing, Housing and Voluntary Contributions. The individual account is part of the heritage of each worker and is heritable.
Managed Accounts
Total number of accounts managed by the Afores.
Concentrating Account
Account operated by the Banco de Mexico, which are deposited to secure resources for Retirement, Severance and old age, under Social Security Law and the Voluntary Contributions and Supplemental Retirement Contributions, as carried out the processes of individualization for transfer to administrators elected by the workers, and to conserve the resources of those workers who do not choose Administrator.
Social Fee
The amount learned by the State to the individual accounts of workers equal to five point five percent of the general minimum wage for the Federal District.
CURP
Unique Key Population Register. It is a recording device that is assigned to all the people living in the country, as well as Mexicans living abroad. Responsible for allocating the CURP and issue the relevant record is the National Population Register (RENAPA).
Custodian
Institution in charge of safeguarding the physical qualifications in debt emissions nationally and internationally.
Entitled IMSS / ISSSTE
Worker quotes, pensioner and / or beneficiaries thereof, to / from one of these social security institutions receiving the benefits provided under the Act IMSS or ISSSTE, as applicable.
Derivative
Financial instrument that is linked to an underlying security or benchmark. Are hedge against price fluctuations in certain products, so that help reduce risks.
Foreign exchange
Dollars of the United States, euros and yen, as well as other foreign currencies under the general provisions relating to the investment regime.
Document Regime Choice 73 or 97 (IMSS)
Workers who were listed before and after 1 July 1997 the IMSS, have the right to choose, at the time of his retirement pension, IMSS Act 73 or Act 97.
Foreign Issuers
Governments, Central Banks and Government Agencies of member countries of the Technical Committee of the International Organization of Securities Commissions and the European Union and the institutions that issue securities under the regulation and supervision of these, as well as multilateral agencies.
National Issuers
The Federal Government, Bank of Mexico, private companies, states, municipalities, Federal District Government and Public Enterprises, emitting instruments, as well as financial institutions, to issue, accept or endorse those instruments.
Operating Companies
Concessionaires to operate the SAR National Database.
E-SAR
Internet portal that allows, through a PIN (CLIP), conduct electronic transactions such as: opening an account and transfer of Afore, and others.
Statement
Document issued by the Afores which contains information on the individual account balance as well as a summary of the movements of the account, the balance of resources of each of the sub-accounts: Retirement, Unemployment and old age, Voluntary Savings and Housing (which governs not only the housing fund Afore) and the comparative table of Afores by Net Performance Index (NRI).
FIBERS
Securities or securities issued by trusts that are engaged in the acquisition or construction of property in territory which is intended to lease or acquire the right to receive income from the lease of such property and to provide funding for these purposes.
Social Welfare Fund.
Pension funds or retirement of personnel, seniority premiums and savings funds established by private companies, federal agencies or public entities, state or municipal or any other person, working as a supply for workers.
FOVISSSTE
Housing Fund of the Institute of Security and Social Services for State Employees. Agency responsible for the granting of housing loans to workers in the service of the State.
Afores Fusion
Afore process where one absorbs another. Exceptionally, the merged Afore affiliates are entitled to remain in the fusional or switch to the Afore they choose.
Futures
Contract that requires the parties to buy or sell a number of goods or securities in the future with a previously established price.
Pink Sheet
It is the record sheet to the IMSS, where each worker is assigned a social security number (SSN). This sheet is named after the color of it and is now being replaced by an electronic credential that will simplify dealings with the Institute.
ICEF
Credit Institution or authorized financial institution. Banks that once managed the resources of workers.
IMSS
Instituto Mexicano del Seguro Social. Social security institution established as a public service to the workers affiliated to it, and their families.
INFONAVIT
Institute of the National Housing Fund for Workers. Institute responsible for providing funding to meet the housing needs of workers entitled.
Rating institutions
Institutions responsible for quantifying credit risk of an institution or a specific debt issuance by a grade.
Social Security Institutes
Social Security Institute, the National Housing Fund for Workers' Safety and Social Services for State Employees and the institutions of the same nature.
Securitized Instruments
Representing securities or receivables issued through vehicles and those whose underlying assets are receivables.
Equity instruments
Instruments (mainly stock indexes) that pay interest that varies according to their own performance over time.
Fixed Income Instruments
Debt financial instruments that pay a predetermined interest for a preset time. An example of such debt instruments are the Federal Government.
Structured Instruments
Values that guarantee their nominal value at maturity, and whose total or partial performance is linked to underlying assets giving rights held in trust on their fruits and products
Equity Index-Linked Instruments
The investment regime of the Afores allows the purchase of stock indexes and not direct action to further refine the risk in such equities.
IPC
National Index of Consumer Prices. Indicator by which reports the evolution of the price level of goods and services consumption in Mexico, which constitutes the official reference of inflation in the country.
ISSSTE
Institute of Security and Social Services for State Employees. Social security institution for workers employed by the State and their families.
ISSSTE-TEL
Call Centre (toll-free at 01,800,001 2007). It is a service telephone guidance and information to address questions about insurance, and allowances of workers employed by the State.
Award
It is the decision of a judicial referee used to resolve a conflict between two or more parties.
Law of ISSSTE
Legislation in force since 1 April 2007, by which they amended the social security scheme for workers in the service of the State and whose main reform is the implementation of the Pension System Benefit definite place in the defined contribution considering exception that occurs in Article Ten of transition.
Transaction Procedures Manual (MPT)
The manual Operating Companies to develop the SAR National Database and approves of the NOCs in which specifies the formats and characteristics of electronic records, reporting procedures of software transactions that constitute the flow of information between the entities participating in savings schemes for retirement.
Handicap
Decrease in the value of an asset or according to market conditions. It is a valuation at a point in time and completely circumstantial. In the case of funds for retirement is a decrease in the value of investments made by the SIEFORES. A disability does not mean that there is a loss.
Wage Amendment (IMSS)
Notice that the IMSS is presented by the employer the first five days of January, March, May, July, September and November when the employee has a salary increase or a change in the remuneration received for work performed.
Establishing Amount
The amount of money required to hire insurance and Survival Annuity, where appropriate, with one insurer.
Notes
Debt instruments and foreign debt securities with maturity linked main protected by one or more of the indexes as well as the outcome of joint structures for debt instruments or securities Foreign Debt with Equity Component to behave such as debt securities or debt securities Foreigners, with main protected at maturity linked to one or more of the indices.
Number of Social Security (IMSS)
11-digit number that serves as identification with the Mexican Social Security Institute and therefore is used to access the services provided by the Institute. This number is unique throughout the life of the worker and is not transferable. A worker who has more of an NSS should go to the IMSS to make the process of unification should be established to correct this situation.
Participants in Systems Retirement Savings
Credit institutions, managers of retirement funds, investment companies specializing in pension funds, operating companies, companies that provide complementary or ancillary services directly related to savings schemes for retirement and the recipient institutions.
Pension
Continued receipt amount that replaces the income of a person at the time of retirement or in case of disability, incapacity or death (in this case to the beneficiaries).
PENSIONISSSTE
National Pension Fund of the State Service Workers. It manages the individual accounts of workers affiliated to the ISSSTE from May 2008 and during the first 36 months of its existence, then compete openly with other Afores.
Guaranteed Pension.
Minimum pension to which a worker is entitled affiliated to IMSS or ISSSTE, after complying with the requirements of Social Security Laws.
Private Pension Plan
Voluntary scheme established by the employer or derived from a collective agreement which seeks to grant a pension to the workers assigned to the entity that designed the Private Pension Plan.
Time Weighted Average
Average investment periods considering switching positions in each instrument.
Price Management
Is obtained by dividing the net assets of an investment company, regardless of the accounting provision of the committees or commissions charged historically, the number of shares subscribed and paid.
Price Siefore
Price per share of an investment company,
Service Provider
Afore that provides the services of management of individual accounts to workers whose new income and resources for the retirement insurance, unemployment in old age and old age are in the Concentrator Account.
ISSSTE Loans
Appropriations from the fund for loans of this Institute, which are of two types: mortgage and personal. These loans can not exceed 50% of the total monetary worker perceptions and cleared through a discount biweekly payroll.
Provider Rates
Institution in charge of the valuation of instruments traded in different national and international markets.
Ramos assurance IMSS / ISSSTE
Each Social Security Institute covers various branches of insurance, to protect workers and their beneficiaries against different situations.
IMSS
1. Occupational hazards
2. Illness and maternity
3. Disability and life
4. Retirement, unemployment and old age in
5. Nurseries and social benefits
ISSSTE
1. Health
2. Occupational risks
3. Retirement, unemployment and old age in
4. Disability and life
RCV
Sub Retirement, Unemployment and old age. Here are deposited the fees and contributions that make the pattern, the federal government and the worker for the pension.
Managed Resources
Resources to manage the Afores and come from the contributions and resources of workers and the capital itself Afores. Also called total net assets.
Previous Amended Conditions
Established in Article Ten transient ISSSTE law itself that states the conditions for the withdrawal of workers employed by the State did not choose the System Defined Contribution Pension. This article presents gradual changes to the requirements that had been in force before 1 April 2007 in respect of withdrawal (for example, minimum retirement age rather than years of service).
Investment Regime
Toolkit and limits set by the Afores CONSAR by Circular 15-19 for the same basis, resources are invested workers.
RENAPA
National Register of Population and Personal Identification. Body responsible for issuing the Unique Key Population Registration (CURP).
Performance
Are gains or interest earned on the investment of resources by the Afores workers.
Gross Yield
Performance is obtained SIEFORES assets before payment of commissions.
Net Yield
Simple subtraction of the raw performance afforded by Afore less the commission charged. It is an indicator that compares the Afores each other.
Simple Average Net Yield
Simple sum of net income given by each of the Afores, divided by the number of Afores.
Weighted Average Net Yield
Weighted net return on net assets of the 5 SIEFORES
International Equities
Investments made in assets (stock indexes) from international broadcasters. These investments are made in markets with high levels of stability as the United States, France, England, Germany or Japan.
Annuity
Contract whereby an insurer will pay a monthly pension for life, that is for a lifetime. This pension is contracted with the resources accumulated in the worker's individual account. An employee entitled to a pension under the Social Security Act 1997 must decide between this benefit and retirement schedule.
Resolution Costs Help Marriage (IMSS)
This document issued by the IMSS guarantees that the worker meets the requirements to be a creditor to the partial withdrawal of resources from their individual accounts by way of support for marriage.
Refusal to Board Resolution (IMSS)
A document issued by the IMSS in reporting is not met the minimum requirements to obtain payment of a pension. In this case the resources of the individual account may be withdrawn in its entirety and in a single display by the worker or his beneficiaries.
Board Resolution (IMSS)
Document issued by IMSS by granting workers the right to a pension (for unemployment at advanced age, old age or early retirement, employment injury or disability and life) and therefore it is necessary to begin the process of granting pension IMSS either before or directly with the Afore.
Retirement Unemployment
Partial withdrawal of account resources individual requesting the 46 days of unemployment. Call for an appointment to the Certification Afore Baja issued by IMSS to the recall.
Marriage withdrawal
Partial withdrawal of resources from the individual account that can be applied to the IMSS as long as the marriage has been held at a date later than 1 July 1997. It should go to the Afore with the resolution of Help Marriage Expenses issued by IMSS to the recall.
Partial Withdrawals
Withdrawals from the individual account that may be available in two exceptional situations: in case of marriage (just once in life) and unemployment (once every five years).
Scheduled Withdrawal
Contract by which the Afore takes the individual account balance and make an estimate of life expectancy of the employee, thereby determining the monthly payment that is entitled for the years covered. An employee entitled to a pension under the Social Insurance Act 1997 must decide between this benefit and the annuity.
Total Recall
When you make a total withdrawal of resources from the individual account of either one Afore pension negative (in which case the money will be awarded in a single display) or by way of pension.
RFC
Federal Registry of Taxpayers. 13 digit key issued by the SAT, which has any natural or legal person is the taxpayer.
Market Risk
Loss on investment may be incurred due to the difference in prices recorded in the markets or risk factors such as interest rates, exchange rates etc.
Credit Risk
Potential loss product of counterparty default in an operation that includes a commitment to pay.
Liquidity Risk
It refers to the inability to convert assets or portfolios in cash. It also refers to losses that may have an institution in the cost of resources needed to finance its assets.
Base Salary Contribution (IMSS)
Integrated with the daily wage for a worker is registered with the IMSS and used to calculate the fees that the employer must pay the Institute and the benefits they are entitled, including contributions to individual accounts.
SAR
Saving for Retirement. It is based on individual accounts which help the worker, the employer and the Federal Government. Each employee becomes entitled to a pension at the end of working life in terms of the amount accumulated in their individual accounts.
SAR 92
Period accumulated contributions by IMSS workers between March 1, 1992 and June 30, 1997. The resources for this period were deposited in the bank who was elected at the time by each employer and governed by the laws of the IMSS and INFONAVIT. The resources of this period can be transferred to the individual account provided that has the corresponding bank receipt.
SARTEL
Call Centre 50 00 01 800 747 (toll free), where there is a personalized way workers on issues related to the System of Saving for Retirement.
SAT
Tax Administration Service. Decentralized body of the Ministry of Finance and Public Credit is responsible for implementing the tax and customs laws and collect federal taxes and control the flow of goods from the country.
Disability and life insurance
Insurance provided by the employer to the worker's name to protect against risks that will disqualify him physically or mentally, or their beneficiaries in case of death of the holder, for reasons beyond the performance of their duties.
Job Hazard Insurance
Insurance that protects the worker against accidents, illness or death to those exposed in or in connection with the work they perform. This insurance provides medical care and where appropriate, payment of a pension for inability to discharge his duties, or grant a pension to the beneficiaries in case of death of the holder.
Survival Insurance.
Whoever is hired by an insurance pensioners to provide for the pension beneficiaries, welfare aid and other cash benefits under the respective insurance by the income that will be given after the death of the pensioner, to the legal termination pensions.
Weekly payments
Time quoted a worker at the IMSS, those weeks are rights that the employee will accrue, to be entitled to a pension from the Institute. The number of weekly payments on behalf of each worker is determined solely by the IMSS.
Separation of Accounts
Process where two or more workers receiving benefits to the same social security number (SSN), go to the IMSS to apply for separate accounts. The Institute will issue the final NSS for each worker and will be transferred the rights and remedies that apply to each of them. Employees can share their SSN with another for any of the following reasons: 1. Homonymy (where paternal surnames, maternal and name are identical), 2. Invasion by a third party (when in error, the IMSS provides two workers NSS), or 3. Invasion per beneficiary (when two relatives mistakenly listed at the same NSS IMSS).
Services
Services that provide workers Afores as the receipt, administration, investment of resources, sending statement and additional ones such as sending information via Internet, telephone service, number of branches, balance inquiry through a credit card electronics, among others.
SHF
Federal Mortgage Society. Financial institution owned by the Development Bank which aims to support access to housing for Mexicans through mortgage programs operated by Limited Purpose Financial Companies (SOFOLES).
SIAP
Information System for the Commission Promoting Agents available to the general public for consultation and verification of records and data related to promoting agents.
SIEFORE
Investment Company Specializing in Retirement Funds. They are investment funds which invest Afores resources to generate income workers. There are five different SIEFORES according to the age of each worker.
SIRI
Receiving System Information. System driven by the human resource areas of each Unit of the Federal Civil Service, through which are updated and modify data in the workers affiliated to the ISSSTE.
System Defined Benefit Pension
System under which both workers and employers contribute to a "global exchange" of the Federal Government used to finance pensions for those who chose this system. Regardless of the contributions made to your name, if the employee meets the requirements of the legislation that the standard (eg, years of service), receives a pension according to the formula shown in the corresponding Law Institute, hence the name "defined benefit".
System Defined Contribution Pension
Pension system characterized by the existence of an individual account whose owner is the employee, in which the contributions are deposited in his name, by itself, by the employer and the federal government by way of saving for retirement. These resources comprise the amount establishing individual accounts.
Housing Sub
Sub-account to which only the employer makes contributions equivalent to 5% wage contribution base. The INFONAVIT in the case of IMSS workers, and if FOVISSSTE ISSSTE workers are those who collect and administer the contributions made by the concept. The report Afores only comply with the balance reported by these institutions through the Statement.
Quote Basic Salary (ISSSTE)
Salary monthly rate with which a worker is registered with the ISSSTE and serves for calculating contributions and benefits among which are those relating to retirement.
Affiliate Workers
Contributors to IMSS workers who registered voluntarily in an AFORE
Employees Assigned to Certification
Contributors to IMSS workers who, having been assigned by the construction, signed a record contract in any AFORE
Assigned Workers without Certification
Workers, not been recorded in some Afore, were assigned by CONSAR according to regulations.
Workers in transition
Workers who contribute to the IMSS before and after July 1, 1997, so at the time of his retirement, given a choice IMSS pensions under the scheme 73 (distribution system) or, the system 97 (accounts individual).
IMSS workers
Are workers at check-in Afore quoted at IMSSS.
Independent Workers
Workers not listed or the IMSS or ISSSTE but have the possibility of opening a savings account for retirement in any Afore voluntarily.
Workers ISSSTE
Are workers at check-in Afore quoted at ISSSTE.
Registered Workers
It is for workers who were entered into an Afore, ie workers who signed a contract with one Afore to manage resources that your individual account. Includes the accounts of workers who, despite having been assigned once signed their record contract in any administrator.
Transfer
Changing one Afore to another by the worker. The transfers are to maintain healthy competition in the Savings for Retirement as the Afores compete for the commission and service income. Workers may change Afore only once a year to the Afore of your choice and once more (ie, maximum twice a year), if a higher Afore Net Performance Index.
Transfer Siefore
When an employee reaches the age limit for five different groups of Siefore, there will be a transfer of resources to Siefore corresponding to the new age of the worker.
Accumulated transfers
Net temporary transfers (orders) and received (earned) in the system for a specified period.
Leased Warehouses
Afore accounts that loses in a given period.
Transfer Abuse
The transfer of the worker's individual account is performed so but not limited to the one AFORE without his consent; or has obtained the consent of the employee by fraud, coercion, intimidation, threats or any other similar conduct , or when the transfer is carried out by using forged or altered documents or by forging documents or signatures, or in cases where the AFORE, acting in agreement with the employer or his representatives or any another person who can put pressure on the worker, get your registration in exchange for the delivery of an amount of money, or providing any service, or grant any benefit or compensation of any kind in favor of the employer or its representatives, and in cases where the AFORE obtain the worker's record in exchange for payment of a sum of money, or providing any service, or the granting of any benefit or compensation of any kind, contrary to cleared, in favor of it.
Transfers Received
Accounts of workers earning an Afore in a given period.
UEAP
Specialized Care Unit to the Public. Are modules of information are there in each Afores to assist workers who inquire about their individual accounts or any transaction related thereto.
Unification of Accounts (IMSS)
Process that responds to that on some occasions, the IMSS provides more than a social security number (SSN) to a single worker, which means that the worker will have both their resources and their rights, under different NSS. To resolve the anomaly, the worker must go to the IMSS to apply for certification Afiliatorios movements in which the IMSS decide which of the NSS on behalf of the worker is permanent or a "unifier." Once assigned this number will cancel the other NSS of the worker and all its resources and rights transfer to the unifying NSS.
Unification of Accounts (ISSSTE)
ICEF - ICEF
The process by which they unite the resources of a worker who has more than one account SAR-ISSSTE, in one or more banks. These funds go to a single account. In general, unifying account is one where the last contributions were made, or which is active at the time of unification.
ICEF - AFORE
The process by which they unite the resources of a worker who has a SAR-ISSSTE account at a bank and at the same time, an individual account in a Afore for reasons such as: a) have contributed or are quoting the IMSS or, b) have opened an individual account for Voluntary contributions. SAR-ISSSTE resources go to the individual account that worker in the Afore.
Value at Risk (VaR)
The disability that may have net assets of an investment company, given a certain level of confidence in a given period.
Government Securities
Debtors issued by the Federal Government. The government sells securities specified time frames and undertakes to pay a premium (interest) at the end of them.
National Securities
Investment alternatives with high safety standards that are made in debt issued by the Federal Government in Mexico. Examples of such securities are bonds issued by the Bank of Mexico.
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