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Pensions Regulator announces changes to the DC scheme return for 2024
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Author:
Global | Publication | September 2022
The public tender recently launched by the Mexican state of Jalisco under the PPP modality for the new Guadalajara metro line project continues following the conclusion of the Q&A stage.
The project will be the first passenger transport route in Mexico to be incorporated into an existing freight train's route and rights of way, and will include eight metro stations throughout 21 km running along the Guadalajara metro area (including the tourist-oriented San Pedro Tlaquepaque municipality). According to the project's website, once finished, the new line is expected to move around 106,000 daily users.
Full technical, financial and legal requirements for bidders and the project itself are detailed in the bidding guidelines, of which a public version is available for interested parties to review. Upcoming key dates in the bidding process include:
Submission and opening of proposals | September 21, 2022 |
Award | October 5, 2022 |
Contract execution | October 25, 2022 |
Construction works for the project should take around 22 months, starting operations in 2024. The contract will have a recovery period of 36 years and has an estimated capex of MXN$9.73bn (around US$482.79m), with the Jalisco state and the National Infrastructure Fund (FONADIN) contributing MXN$4.1bn.
Guadalajara ranks as the third-largest metropolitan area in Mexico, with the second-highest population density and is a key Latin American tech hub and financial center.
The project marks the latest large-scale metro expansion in Mexico, as similar projects have been recently launched in Monterrey and Mexico City. As public transportation continues to be addressed and improved upon by the Mexican government, other projects in major cities are expected to follow.
Publication
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Publication
On July 30, 2024, the Regulator published its market oversight report on how trustees are complying with their environmental, social and governance (ESG) duties, including in respect of climate change.
Publication
We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.
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