Throughout 2022, the Retirement Fund Administrators (Afores), they lost 473 thousand 795 million pesosa figure that does not look good for performance.
During the month of September alone, 200 thousand 653 million pesos were “erased”, and according to the president of the National Commission of the System of Retirement SavingsIván Pliego, this year could be one of the worst in terms of performance.
Pliego warns that if “the trends with the existing volatility” continue, “it is not unreasonable to expect it to end in the red.”
The president of the Mexican Association of AforesBernardo González, pointed out that the capital losses are due to the international context of high volatility in the financial markets.
Another of the factors that affect, according to González, are the increases in central bank rates triggered by the rise in global inflation.
Do Afore losses affect workers?
Given the possibility that there are direct effects on workers due to the loss of Aforesthe president of the Mexican Association of Afores clarified it could affect certain people.
First of all, it is important to note that the temporal performance of the Afores has no immediate effect on the resources of the workerssince in the long term income is always being generated, therefore, more money for workers.
However, the president of the National Retirement Savings System Commission indicated that those affected could be those close to 70 thousand workers who plan to retire this 2022.
Since there are losses in Aforesthose affected by disabilities would be those who plan to retire this year that has accumulated losses.
It was clarified that the effects depend on the moment in which the pension is withdrawn, so people must be informed and at the time of starting their process they can make the best decision.
With this information, those seeking to retire will be able to do so at the best time, understanding that doing so at this time could affect their savings, “hence the responsibility of the Afores to present the information,” he said.
For this reason, it is exhorted not to make “movements that cause the handicaps to generate losses, we have profit periods of 45 months, and handicaps of eight months, so you must have peace of mind in this system.”
According to the directors, the red numbers are not expected to turn positive towards the end of 2022 due to the international context.
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