The most important social security institutions in Mexico signed a portability agreement

Last week, IMSS and ISSSTE, the social security institutions for the workers of the private and public sector in Mexico respectively, signed a portability agreement. The agreement establishes that workers´ contributions to both schemes will be recognized in the calculation of minimum requirements to get benefits and in the amount of benefits. The agreement contemplates old age pensions, medical services and other social benefits. The agreement could be reached after the reform to the ISSSTE scheme that took place in 2007. We have analyzed the social security international agreements at the CISS in our Annual Report of 2006.