TERMIUM Plus®

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INDIVIDUAL CAPITALIZATION ACCOUNT [1 record]

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Record 1 1997-10-27

English

Subject field(s)
  • Pensions and Annuities
CONT

Regulations enacted in December 1992 provided for the operation of the private pension system, which eliminated the government monopoly on providing pension, disability and death benefits. The Private Pension System, which started operating in June 1993, is based on a contribution basis, whereby each affiliate's contributions are credited to an individual capitalization account. These contributions make up a pension fund, administered by the AFPs [Administradora de Fondos Pensiones] (private pension fund administrators). These entities are in charge of managing pension funds and offering retirement disability, survivorship and death benefits to their affiliates.

Key term(s)
  • capitalization account

French

Domaine(s)
  • Pensions et rentes
CONT

Un compte de capitalisation individuel donnera la possibilité de placer soi-même une petite partie des cotisations versées. La caisse d'assurances peut vous fournir de la documentation sur le nouveau régime de retraite.

OBS

Source : Un bref aperçu des assurances sociales.

Key term(s)
  • compte de capitalisation

Spanish

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