200 billion pesos are abandoned in Afores and they seek to recover them

currently exist 18 million retirement savings accounts which generate resources, but are not recognized by the worker, so it is important that the holders of these recover them and can access their benefits, he said Julio Cesar Cervantes ParraPresident of the National Commission for the Retirement Savings System (Advise).

These accounts in their entirety total resources of around 200 billion pesos, which makes it important that this money is correctly labelled, he pointed out in an interview with El Heraldo de México.

On several occasions, Consar has claimed that this situation may be due to the fact that workers do not know that they must choose a pension fund manager (Afore) to manage it or that they have stopped contributing to the security social for some reason, and they don’t know that account is still valid or that they have it.

Thus, the president of the National Commission for the retirement savings system called on workers to take stock of what concerns them.

For this, he pointed out, you can take advantage of the Afores Fair, which will take place at the Zócalo in Mexico City from today until July 23, where 45 entities will be, including authorities and dependencies , in addition to the 10 pension fund administrators , to carry out the procedures related to your retirement savings account.

“We invite workers to approach Consar or any Afore, so that they provide their data and so they can register with an administrator,” he said.

He clarified that although these accounts are located by the Retirement Savings System (SAR), the lack of data such as the worker’s address makes it impossible to locate them.

He pointed out that based on the Occupation and Employment Surveys (ENOE) and household income and expenditure, they recognize that the Afore account is the second wealth of Mexicans after their home.

He stressed that like any heritage, it must be cared for, strengthened and the tools for this are between the Afores and the Consar, through the Afore Móvil application, where they can consult the statement of account and make contributions.

He said that with the information provided by Consar, workers can make decisions about what is best, such as performance and commission.

Julio Cervantes acknowledged that one of the problems facing the system is the lack of concern on the part of workers to check that their social security contributions are actually paid and based on their full salary.

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