On September 11, 2026, the Superintendence of Pensions (“SP”) approved the new Investment Regime for Pension Funds, which will enter into force on April 1, 2027. Among its main changes, the new regime replaces the current multi-fund system with ten Generational Funds, introduces a new investment path based on affiliates’ life cycle, and modifies investment limits, reference portfolios, and mechanisms associated with fund performance.

In this context, our Capital Markets team has prepared the following report, analyzing the main changes introduced by the new regime, their implications for Pension Fund Administrators, and the key milestones to consider ahead of its implementation.

Read the full document here.