Claudia Sheinbaum assures bankers that Afores “will not be touched”

With the recent controversies that have broken out over the reform presented in the Chamber of Deputies by Morena for the creation of the Pension Fund for Wellbeingthe candidate of the “Let's Keep Making History” coalition for the Presidency of Mexico, Claudia Sheinbaum Pardo assured bankers that the Afore accounts of formal sector workers “will not be touched” by the Mexican government.

It was at an event held within the framework of the 87th Banking Convention, which takes place this 2024 in Acapulco, Guerrerowhere the candidate for the Presidency of the Republic made it clear that, contrary to criticism, if the legislative initiative for the creation of the Pension Fund for Wellbeing is approved in the Congress of the Union, it would not affect the accounts. Afore of Mexican workers.

In this sense, Sheinbaum Pardo maintained that the reform of the pension system of the Mexican Social Security Institute (IMSS) and the Institute of Security and Social Services of State Workers (ISSSTE) will not modify Afores accounts.

Meanwhile, the former head of Government of Mexico City stressed that the creation of the Pension Fund for Wellbeing aims to improve retirement conditions for workers in the Mexican formal sector.

For her part, when asked about the financing of the Pension Fund for Wellbeing, the Morena candidate for the Presidency of Mexico emphasized that part of the resources come from pensions not claimed or not recognized after 6 years after the worker retired.

AMLO Defends Pension Fund for Wellbeing

It is worth mentioning that, recently, the President Andrés Manuel López Obradorin his morning conference at the National Palace, came out in defense of the creation of the Pension Fund for Wellbeing, while pointing out that the expropriation of the Afores is not sought.

“What was missing from the government was to expropriate, the pensions that 45 million workers have in the Afores, that is a lie. What expropriation of the Afores? But everyone, why do they lie? If it's not an expropriation,” the federal president clarified.

It is in this way that the Executive stressed that the reform that is being discussed in the Chamber of Deputies aims for workers in the Mexican formal sector, When they retire, they can receive up to 100% of their salary as a pension.

“But they can receive up to 100 percent (of pension), for that a compensatory fund is needed that the Bank of Mexico will manage and one of the sources of financing for that fund is that money,” he indicated while ensuring that they seek to use the money that “the Afores illegally manage” for the Pension Fund for Wellbeing.

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