EconomyYields in the Afores: Amafore defends its commitment to...

Yields in the Afores: Amafore defends its commitment to workers

The Mexican Association of Afores (Amafore) defended the returns offered by administrators to workers and said that it is confident that the results of the 2020 reform will be positive .

This Tuesday, President López Obrado said that two years after the approval of a pension reform, progress would be reviewed since the administrators have been a business that only favors businessmen because of the commissions they charge.

“The Afores emerged in the neoliberal period and it was a blow to the economy of the workers , especially when they retired because they are safe businesses for the financiers but not for the workers,” the president said in his morning conference.

For Amafore, the administrators are committed to obtaining the best long-term results so that workers’ savings are maximized .

“We continue to invest resources in favor of workers in our country and we are sure that the results of the reform will be positive . Thanks to the reform promoted by the president, in addition to the lowest commissions in the world, the results are a reality for the first generation of retired workers under this regime, who already obtained more and better pensions,” Amafore reported in a statement.

Amafore highlighted that the reform approved in 2020 has been recognized by governments and international organizations as an ideal viable solution for the future of pensions .

President López Obrador said that he will soon summon the Secretary of the Treasury, Rogelio Ramírez de la O, and the head of Consar, Iván Pliego, to explain the reasons for the disabilities that have occurred in recent months.

Consar told Expansión that until now they had no information on the president’s changes or proposals.

The Afores recorded a loss of 200.653 million pesos last September due to uncertainty in the stock markets. The Afores have registered in the year, six months with disabilities and three with capital gains.

The Consar has anticipated that this year may be one of the worst since 2018, when the losses due to the cancellation of the NAIM were 9,055 million pesos.

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