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Pensions in Mexico. Mexico reformed its pension system in 1997, transforming it from a pay as you go (PAYG), defined benefit (DB) scheme to a fully funded, private and mandatory defined contribution (DC) scheme. The reform was modeled after the pension reforms in Chile in the early 1980s, and was a result of recommendations from the World Bank.
The Pension Program for the Elderly (PPE) is a safety net, noncontributory pension program administered by the federal Secretariat of Social Development (SEDESOL) in Mexico. The program aims to expand the schemes of universal social security, by providing financial support and social protection to people 65 or older who a) do not benefit from ...
www.imss.gob.mx. The Mexican Institute of Social Security ( Spanish: Instituto Mexicano del Seguro Social, IMSS) is a governmental organization that assists public health, pensions and social security in Mexico operating under the Secretariat of Health. It also forms an integral part of the Mexican healthcare system.
Children in Mexico can also apply for social welfare, depending on their circumstances. One protection available to them is the DIF (Desarrollo Integral de la Familia), which is a program for family services that are state-run. Children can also benefit from the Prospera program (formerly known as Oportunidades) as mentioned above.
Employee benefits in the United States include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401 (k), 403 (b) ); group term life insurance and accidental death and dismemberment insurance plans; income protection plans (also known ...
The Bracero Program (from the Spanish term bracero [bɾaˈse.ɾo], meaning "manual laborer" or "one who works using his arms") was a U.S. Government-sponsored program that imported Mexican farm and railroad workers into the United States between the years 1942 and 1964. The program, which was designed to fill agriculture shortages during World ...
Mexican labor law governs the process by which workers in Mexico may organize labor unions, engage in collective bargaining, and strike.Current labor law reflects the historic interrelation between the state and the Confederation of Mexican Workers, the labor confederation officially aligned with the Institutional Revolutionary Party (the Institutional Revolutionary Party, or PRI), which ruled ...
An employee may also contribute extra funds voluntarily. Additional contributions may be done directly with the AFORE or automatically deducted from the employee's salary. Housing. This is a sub-account into which employers contribute an equivalent of five percent of the employee's salary.