Adults withdraw 203 thousand million pesos from Afores



The National Commission of the Retirement Savings System (Consar) informed the Senate that from January to September of this year, 844 thousand 792 citizens aged 65 or over made total withdrawals from their retirement fund managers (afores) who added 41 thousand 54.7 million pesos, of which 24 thousand 160.3 million pesos correspond to Retirement, Severance and Old Age and 16 thousand 894.4 million pesos to housing resources.

The Consar added that in that same period, 773 thousand 983 workers, whose age is between 60 and 64 years, made total withdrawals in the amount of 162 thousand 173.8 million pesos.

In the report of the third quarter of the year, the Consar said that "the accumulated capital gains of the Retirement Savings System (SAR) amounted to 397 thousand 337 million pesos, equivalent to 10.3% of the resources managed by the Afores."

Similarly, at the end of the third quarter of 2019, total system resources totaled three billion 858 thousand 465 million pesos, 165 thousand 724 million pesos more than in the second quarter of 2019, which meant a growth rate of 4.5% net assets and net assets were 16.1% of gross domestic product (GDP).

He informed that at the end of September this year, the accounts in the Retirement Savings System amounted to 64.9 million, of which 45.9 million are registered accounts, 10.4 million are accounts allocated with resources in Siefore and the rest corresponds to accounts assigned with resources deposited in the Bank of Mexico.

At the end of September 2019, the Siefores portfolio composition concentrated 54.7% in government assets, 18% in national private debt, 11.9% in international equities, 5.6% in national equities, 6% in structured, 2.5% in fibers, 1% in international debt and 0.2% in miscellaneous goods.

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