In Mexico more than 18.3 million people who work in formality have a afore account but they do not know of its existence or, there is the possibility that these workers did not want to join an Afore.
It is not just any figure because of these accounts, which are called assigned or reassigned, The Afores also obtain income because they charge the same commission than to a person who signed a contract.
As is the case of Afore Azteca is in charge of 18.2 million accounts, of which 51% are assigned accounts. It is almost like a gift because regardless of whether the worker knows or not if he has an Afore, this will charge him a commission every two months and Azteca will charge 0.57% on the balance.
At the end of September this afore obtained income from commission collection a total of 1,025.4 million pesos, 13% more than last year. This formerly earns by being paid, but when it comes to returns for the worker, it remains in the last places.
According to he Consar Net Performance Indicator , In the generational siefore 90-94 it occupies ninth place with an average return of 5%, without discounting inflation.
Another Afore that benefits from the assigned accounts is Profuture, Since of their total portfolio, 35% are from people who do not know they have one or have not chosen an Afore. Profuture too charges a commission of 0.57% to 7.05 million workers who have an account.
The income from this commission meant for Profuturo a total of more than 4 billion pesos, more than a third came from the assigned accounts . The performance that this Afore gives in the 90-94 generational Siefore is 6.23%, occupying second place.
In total, among the 10 Afores that make up the market, they register a total of 73.6 million worker accounts who save for their retirement, of which 25% are assigned or reassigned accounts.
When a person enters the labor market, it is assumed that The company must join the IMSS To receive medical health services, you are assigned an Afore and it also generates savings for housing. The company should make these three aspects clear within the contract, but apparently they do not do so.
If this person does not take the task of seeing what happened before and does not sign a contract with an administrator, Consar assigns you an Afore and if after a certain period the worker still does not choose an Afore, Consar reassigns the account to another sooner
A void that in some way is taken advantage of by the Afores, because in reality You don’t have to do much to have these accounts. . Real Afores are big business. They will never lose him. They will have their pocket of income, without even guaranteeing returns. And just imagine how well they will do with the increased contributions they started this year.