Audio – Mexico’s pension overhaul should benefit markets
A proposal to overhaul one of the government’s pension systems was cleared by congressional committees this week in a rare agreement between Mexico’s top political parties. The legislation introduces private retirement accounts for public-sector workers but still needs approval from the Congress lower chamber and Senate.
If passed, the new pension system could push the government to take extra debt but would bolster public finances in the long term.
Mexico’s Deputy Finance Minister Alejandro Werner spoke at the Reuters Latin American Investment Summit about the benefits of the proposed changes to the pension system.