Afores Prepare for a Historic Year in Earnings

The profits provided by Afores to workers are on track to reach a historic figure in 2024. From January to November, the 10 managing companies accumulated 621.242 billion pesos in earnings, which represents the highest amount in several years, according to the National Commission of the Retirement Savings System (Consar).

In November, the profits of the Afores reached 64.805.1 million pesos; this figure shows that there have been nine months with gains compared to only two months with losses throughout the year. The earnings from Afores directly benefit workers' savings, making 2024 a good year for this type of investment due to the positive results obtained. On the other hand, unemployment withdrawals—an aid available to all workers with Afore in case they lose their job—saw a decrease of 17.6% compared to November. Consar had recently pointed out that unemployment withdrawals had increased because some workers, in order to access a larger sum of money, reported different salaries than those reported to the IMSS.

It’s encouraging to see how Afores are generating significant returns; this not only benefits the savings accumulated by workers but also reflects a more stable economic environment. As these figures continue to emerge, it is vital that retirement decisions are made prudently, considering not only the current returns but also future needs amid job market uncertainties.