The Mexican government will be able to take savings from the Afores pension funds [Video]

After a rough session, the Senate created the so-called “Pension Fund for Wellbeing”, which will be made up of 40 billion pesos from people aged 70 and over, among other resources.

In a debate of more than eight hours, which almost ended in physical agressions between Senators Miguel Ángel Mancera and César Cravioto, the Senate finalized the creation of the Pension Fund for Wellbeing.

This fund will be fed by 40 billion pesos of savings in Afore accounts not claimed by people aged 70 and over, profits from the Maya Train, the AIFA airport, Mexicana de Aviación and other resources.

The unclaimed accounts of elderly State workers will also be transferred to the trust, which the Treasury will create in Banxico, without it being necessary to wait for a judicial resolution.

The opposition insisted on the harmfulness of the reform. “Morena legislators are stealing our assets,” warned Germán Martínez. The …