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Mexico’s Supreme Court Upholds Cap on Afore Fees in Unanimous Ruling

The unanimous ruling prioritizes worker protections in the regulated pension system over free‑market claims.

Overview

  • The Court confirmed the constitutionality of Article 37 of the Retirement Savings System law, which limits the fees Afores can charge workers.
  • The decision validates that commissions may not exceed the ceiling set by the Governing Board of the National Commission for the Retirement Savings System (Consar).
  • The ruling overturns a district judge’s injunction that had favored one Afore after it challenged the 2020 reform on freedom of commerce and legitimate‑expectation grounds.
  • The case reached the high court after appeals by the federal executive and Consar, and the opinion authored by Minister Yasmín Esquivel was approved unanimously.
  • Justices emphasized that the retirement savings regime is a matter of public interest designed to safeguard workers’ funds and support dignified pensions.