Workers’ Afores are untouchable and inexpropriatable: IMSS – El Sol de México

He Mexican Social Security Institute (IMSS) assured that the initiative to finance part of the Pension Fund for Welfare with the accounts of Afores inactive does not put the resources of the workers.

In a statement, Iván Pérez Negrón, head of the Economic Benefits and Occupational Health Unit of the IMSS, pointed out that the proposal seeks to strengthen the 2020 reform that gave imprescriptibility to the resourcesand people can “go and claim them, whether they are 70, 80, or 90 years old.”

“The workers’ resources are untouchable and inexpropriatable and this reform is not a small improvement, it is a fundamental pillar of something much bigger than a Constitutional reform in order to consolidate, modernize and make the social security system fairer and stronger,” he said.

The initiative, presented by Brunetteseeks to create the Pension Fund for Welfarewhere it is intended to put the Retirement Savings and Housing Fund funds, both integrated into the Afores system.

The fund will have the legal power to take resources from the Afores of people aged 70 (integrated into the IMSS) and 75 (integrated into the ISSSTE) that have not withdrawn their resources. This Monday its approval will be discussed in the Social Security Commission and it could go to the Plenary Session of the Chamber of Deputies.

In the 2020 pension reform, it was indicated that the resources from the inactive accounts of the Afores would go to IMSSHowever, with this new initiative, these resources will enter directly into the Pension Fund for Wellbeing, Pérez indicated.

The manager explained that this fund will be constituted in the Bank of Mexico and will be administered by the Secretariat of Finance and Public Credit.

He added that the reform of pensions will benefit workers who earn a maximum of the base salary registered with Social Security, which is 16,777 pesos.

“The fund guarantees 100 percent of the last salary of workers registered in the IMSS and ISSSTE; This will be achieved through financing that will be the solidarity complement with resources that will go to the Pension Fund for Welfare“he added.

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