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Allow receiving 10% more pension
SHCP announces a decrease in Afores commissions
August 28th, 2019
The head of the Ministry of Finance and Public Credit, Arturo Herrera, announced during the morning conference of President López Obrador that the instance in charge culminated an agreement with the National Commission of the Retirement Savings System (CONSAR) and the company Amafore to reduce commissions.
According to the official, this reduction for the management of savings pension funds went from 1.01% in 2018, 1% so far this year. "This implies that in the present administration about 100 billion pesos will be achieved that will be passed from the fund managers 'commissions to the workers' accounts," said Herrera.
For the worker, the official added, this means that at the end of his working life he can receive 10% more pension.
Translator: Martín Caballero