This Monday the Senate social security commission approved the pension reform, which authorizes the creation of a welfare pension fund. The president seeks that people with incomes of less than 16,777 pesos have a 100% pension.
For the fund to have resources, the ruling contemplates resources from the Institute to Return Looted to the People (Indep), through the profits of state companies, as well as individual accounts that have not been claimed; in addition to the liquidation of the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development of the collection of debts from public entities such as the IMSS, ISSSTE and SAT.
The modifications were a response to the concerns of workers who decide to postpone their retirement, and “remain active beyond the age of 70, but maintaining the individuality of their accounts in the Afore of their choice.
“We reiterate that the principles of individual ownership of savings accounts and the efficient administration of Afores remain in force and will not be modified with the approval of the initiative on accounts for workers who, with the right to retire, have not claimed their resources after for a while,” said Amafore.
Finally, the association said that it supports the search for initiatives and mechanisms that seek to “improve the retirement conditions of Mexican workers.”
