EconomyLAST MINUTE: The Afores report losses of 200,653 million...

LAST MINUTE: The Afores report losses of 200,653 million pesos only in September

Bad news for workers who have an Afore: in September the administrators reported losses of 200.653 million pesos (mdp).

The head of the National Commission of the Retirement Savings System (Consar), Iván Pliego, said this Tuesday that 2022 will be one of the worst years of the system since 2018, when due to the cancellation of the NAIM there were disabilities in the Afores.

In the accumulated from January to September, the losses are 473,795 million pesos. "2022 looks like one of the worst years in the system, but there has never been a year in which there are no months with losses," the official said.

Despite the fact that analysts forecast that the global economy is that there will be a recession in 2023, and a slowdown this year for Mexico, Pliego is confident that it will be a better year for the system.

The Consar recommended that workers not make changes to their Afore or the pension process because they could suffer losses.

By 2023, with the entry into force of the pension law reform, employers will have to increase contributions to the system, which will give them an income of half a billion pesos a year.

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