Do you know what an Afore is? The Retirement Fund Administrators are in charge of managing the savings of Mexican workers who are affiliated with the IMSS and ISSSTE. These savings will later serve to qualify for a pension when it is time to retire.
It is important that you try to always stay in an administrator that gives you the best returns according to your age. If not, you can change once a year to the one that seems best to you; You can only do this procedure twice when the one you want to switch to gives more profit to your savings.
Afores manage workers’ savings. Photo: Reforma
The National Commission of the Retirement Savings System (Consar) is in charge of regulating all the activities carried out by the Afores, if you want to know what is the performance that the Afores offers you, you can visit the official page or consult it in your statement of account, in which it should arrive three times a year.
It is important that you know that the returns that your Afore offers you are the result of the weighted average for the assets under management of the net returns of the Basic SIEFORES. It is what remains of the profit once the commission applied for handling your money is deducted.
Here you can check the percentages obtained by the Afores at the end of October, for those born in 1995 or later:
Afore Performance compared September-October Profuturo from 6.99% to 7.07% (same position) Coppel from 5.84% goes to 5.90% (same position) Sura from 5.53% goes to 5.78% (same position) Principal from 5.37% goes to 5.46% (increases one position) XXI Banorte from 5.31% goes to 5.40% (rises two positions) Azteca from 5.34% goes to 5.37% (same position) Pensionissste from 5.37% goes to 5.36% (falls three positions) Inbursa from 5.30% to 5.28% (same position) Citibanamex from 4.90% to 5.14% (same position) Invercap from 4.05% to 4.13% (same position)
The three Afores that gave more income to workers of the generation born after 95, were Profuturo, Coppel and Sura. All the administrators presented gains in their returns.
If you have any questions with your Afore where you are registered you can communicate by phone or visit the official sites:
AFORE TELEPHONES OFFICIAL SITE Profuturo 01 800 715 5555 www.profuturo.mx Inbursa 01 800 909 0000 www.inbursa.com Pensionissste 01 800 400 2000 www.gob.mx/pensionissste Coppel 01 800 226 7735 www.aforecoppel.com XXI Banorte 0155 2000 1994 www.xxi-banorte.com Sura 0144 3310 8192 www.suramexico.com Invercap 01 800 522 2367 www.invercap.com.mx Banamex 01 800 282 3673 www.aforebanamex.com.mx Principal 01 800 277 4624 www.principal.com .mx
For more news on this and other topics, we invite you to our section Retirement.