Last Monday, July 1, the president Andrés Manuel López Obrador launched the Pension Fund for Welfarewhich promises full-pay retirement for a sector of the population.
He The Pension Fund for Welfare has a base of 44 thousand 894 million pesosof which 59% of the initial resources equivalent to 24,238.5 million pesos, come from unclaimed accounts of the Retirement Fund Administrators (Afores), the private pension system.
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In addition to the Afores, the Welfare Pension Fund will be financed with resources seized from organized crime and corrupt politicians, managed by the Institute to Return to the People What Was Stolen (Indep).
Resources from the liquidation of the Rural Finance Company and debts owed by public entities to the Tax Administration Service (SAT) will also be added. But who will receive the funds?
Who benefits from the Welfare Pension Fund?
The The purpose of the fund is to provide a 100% replacement rate to workers who entered the formal sector Starting in 1997, the pension was capped at 17,000 pesos per month. This objective seeks to ensure that workers receive a pension that allows them to maintain their standard of living upon retirement.
That is to say that the Welfare Pension Fund will benefit workers aged 65 or older who have begun to contribute to the Mexican Social Security Institute (IMSS) under the 1997 pension system or to the Institute of Social Security and Services for State Workers (ISSSTE) under the individual account system and who, in addition, have a monthly salary equal to or less than 16,777 pesos.
Bertha Alcalde, general director of ISSSTE, reported that the Workers who are in the process of obtaining their pension will not have to carry out additional procedures to receive the fund supplement.They will only have to follow the ordinary procedure to obtain their pension, and they will be notified if they are beneficiaries of the fund.
When completing the procedure to obtain your pension, you will be informed if you are eligible to receive the supplement from the Welfare Pension Fund, which promises a more simplified and accessible process.
With this initiative, the López Obrador government seeks to fulfill one of its campaign promises and ensure a dignified retirement for Mexican workers.
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