Nobody’s Afores are touched: AMLO – El Sol de México

Andrés Manuel López Obradorpresident of Mexico, assured that with the reform to create the Welfare Fund for pensions, the money that Mexicans have in the Afores will not be touched.

“No one’s Afores are touched, on the contrary, they are protected, as long as we are there and I think that will be the case in the future, there is nothing to fear about the pension funds that belong to the workers, on the contrary, we are strengthening them because when we came to government, the administrators of these funds, Afores, charged very high commissions above what were charged in other countries,” said the President.

On April 5, The Morena bench in the Chamber of Deputies presented a reform initiative so that the money from the Afores of the IMSS and the ISSSTE are transferred to the Welfare Fund, which will serve as a seed fund to guarantee pensions of 100 percent of the last salary to retiring workers.

It means correcting what Zedillo did wrong when they decide to make a reform so that a worker, instead of receiving 100 percent of his salary when he retires, receives 40 percent or less, so we have already started to correct that and now we want them to receive 100 percent commented López Obrador.

The initiative proposes that the sources of financing for this fund will be the profits of the Institute to Return What has been Stolen to the People, the profits of the companies managed by Sedena such as the Mayan Train, Mexicana de Aviación and the Transisthmian Corridor, the sale of the Fonatur properties and the money obtained from the unclaimed Afores.

The Fund will be managed by the Bank of Mexico, explained López Obrador.

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