Private Pension Plans (PPP):
Private Pension Plans (PPP):
Mexican Social Security Law provides a tax incentive scheme to encourage companies to offer to employees additional pension plans as part of their benefits Based on the World Bank multipillar scheme, PPPs are considered on the Third Pillar, complementary voluntary savings, since they are an essential element to complement employees retirement resources. PPPs allow employees to increase their pension resources
Mexican Social Security Law provides a tax incentive scheme to encourage companies to offer to employees additional pension plans as part of their benefits Based on the World Bank multipillar scheme, PPPs are considered on the Third Pillar, complementary voluntary savings, since they are an essential element to complement employees retirement resources. PPPs allow employees to increase their pension resources
We offer the following services:
Valuation
Risks
Investment regime monitoring
Securities reconciliation
Customized reports
Performance
We are sought by Private Pension Plans managers to:
We are sought by Private Pension Plans managers to:
Outsource middle and back office services in order to maximize human capital management.
Achieve substantial cost savings.
Provide transparency to committees and beneficiaries.
Provide advice on the best market practices for portfolio management.
Outsource middle and back office services in order to maximize human capital management.
Achieve substantial cost savings.
Provide transparency to committees and beneficiaries.
Provide advice on the best market practices for portfolio management.
PPPs have become an excellent benefit for companies to offer to employees in order to retain valuable human capital, If your company pension plan scheme complies with Mexican regulatory requirements, it can be tax deductible. For example, a company can set part of its contributions to the pension plan as well as the managing and operating costs against taxes. In recent years, COVAF has provided valuation and management support services to PPPs registered in the Electronic Registry of Private Pension Plans (SIREPP). COVAF applies the criteria and best practices set for pension funds and SIEFOREs to this market as well.
For further details about COVAF services, click here here and we will contact you
