The Mexican Social Security Institute (IMSS) and the National Commission for the Retirement Savings System (Consar) have formalized a partnership to improve the monitoring of pension plans and combat fraudulent schemes that threaten workers' retirement savings. This agreement serves as a proactive step to ensure that pension plans are regulated properly and that workers receive their due benefits. The initiative highlights the importance of safeguarding workers' financial futures by enhancing the accountability of pension provisions.

The agreement is a response to practices identified by a Joint Interinstitutional Group, which includes several agencies such as the SAT, Infonavit, STPS, and Consar. These institutions discovered that some employers were making payments under the guise of fictitious pension plans without including them in the base salary contributions. Such deceitful practices not only undermine the integrity of the pension system but also jeopardize the financial stability of employees during retirement.

With this collaboration, both IMSS and Consar aim to implement modifications and additions to the General Provisions applicable to Pension Plans, ensuring greater regulatory compliance. By taking these steps, they are tackling the issue head-on and fostering a more sustainable retirement framework for workers across Mexico, which is crucial given the country's aging population and economic challenges.