In a statement, the agency added that the Welfare Pension Fund will be established in the Bank of Mexico (Banxico) and will be administered by the Ministry of Finance and Public Credit, so workers' savings will be fully guaranteed.
The official explained that if a worker has a salary of 11,000 pesos, at the time of retirement he will receive 60% of that amount; With the proposed reform he would have the additional 40%, this through the fund.
The statement adds that the reform will benefit workers who earn the maximum base salary registered with Social Security, which is 16,777 pesos.
The Chamber of Deputies will rule in committees this Monday on the pension reform proposal but it will do so without actuarial studies or discussion about the new financing sources proposed by Morena at the last minute to support the Welfare Pension Fund, experts warned.
The House Social Security Committee It is scheduled for this Monday and the report, already circulated, considers the new scheme viable, despite the fact that during the “National Dialogue Forums. Join the Debate on the reforms for Freedom, Welfare, Justice and Democracy” held at the end of February and until this week – when they conclude – the most controversial points of the proposal were not analyzed.
It should be noted that legislators are considering making modifications to the original initiative, so the established terms and amounts may change.
Amafore Backup
Last week, the Mexican Association of Retirement Fund Administrators (Amafore) said that it will support any initiative that is in favor of the retirement conditions of Mexican workers.
“It is important to clarify that the initiative does not contemplate any expropriation of resources as has been indicated. What it proposes is to formalize a transfer of resources that has been taking place for some years. In addition, it maintains the condition of imprescriptibility of workers' resources, as established since the 2020 reform. The workers of Mexico can fully trust in the security of their resources in the Retirement Savings System,” he noted in a statement.
