Recovery in Afores: they register capital gains of $82,831 million in May

As part of a positive turn after previous losses, the Retirement Fund Administrators (Afores) of Mexico reported very notable capital gains in May, reaching 82,831 million pesosraising the accumulated profits from January to May to 50,991 million pesos, according to data from the National Commission of the Retirement Savings System (Consar).

This increase contrasts with the volatility observed in April and reflects a notable recovery in the investment performance of the Pension funds. In addition to the gains, the system has seen a decrease in unemployment withdrawalswhich decreased by 20% in May compared to the previous month, adding up to a total of 2,196.4 million pesos.

Throughout 2024, 116,637 workers have withdrawn funds from their accounts due to unemployment, accumulating a total of 12,355.1 million pesos withdrawn. The Afores with the highest withdrawals include Afore Azteca, Citibanamex and Coppel.

In terms of performance, the Retirement Savings System (SAR) It has registered a historical performance until May of 10.35% nominal and 4.59% real. These figures reflect the system’s ability to deliver competitive returns despite economic challenges.

From January to May 2024, partial unemployment withdrawals have reached a record of 12,355.2 million pesos, an increase of 26.7% in annual comparison.

A total of 716,361 unemployed people have accessed their pension savings during this period, marking an increase of 9.9% compared to the same period of the previous year.

On average, Each unemployed person has withdrawn 17,247.1 pesos from their Aforewhich is 15.2% higher than last year.

Particularly in May, unemployment withdrawals amounted to 2,196.4 million pesos, with 116,637 people accessing their savings, which represents a decrease of 15.3% compared to May 2023.

The average amount withdrawn per individual in May of this year was 18,831 pesos, showing an increase from 15,721 pesos in the same month of the previous year.

This financial picture highlights the dual dynamics of the pension system in Mexico, where, despite the recovery in Afore profits, the increase in unemployment withdrawals reflects the continued economic difficulties faced by many workers.

Journalist with more than 15 years of experience in print and digital publications. I am currently editor of Debate.com.mx. I have a degree in Communication Sciences. I have covered diverse information sources, especially from the business areas. I usually write about personal finances, retirement, pensions, IMSS, employment, money, currencies, credits, entrepreneurship, insurance, technology, science and scientific studies in areas such as health. I like social networks, reading about marketing, SEO and literature, especially topics of politics and history. In 2018 I had to start mibolsillo.com and since then I have ventured into digital journalism.

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