MEXICO: Universities face bankruptcy over pension crisis

31 October 2010

Nearly two-thirds of Mexico's 33 public universities could face bankruptcy because of a combined $35-billion shortfall in their pension plans, according to a government study obtained by the newspaper El Universal, writes Marion Lloyd for The Chronicle of Higher Education.

An official with Mexico's higher education ministry confirmed the details of the newspaper's account but said he could not provide a copy of a report on the study, which he described as an "internal document". The shortfall is the result of poor fiscal planning and skyrocketing retirement costs, in part because of the increased life expectancies of the beneficiaries, the newspaper quotes the study as saying.
Full report on The Chronicle site

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