Afore individual accounts and retirement savings in Mexico

In Mexico, the retirement savings system is built around an individual account managed by an Administradora de Fondos para el Retiro (Afore). These personal and non-transferable accounts receive mandatory contributions from workers, employers, and the federal government. For those registered with IMSS or ISSSTE, these funds are deposited into the individual account to build resources for retirement.

To maximize long-term growth, Afores invest these resources through SIEFORES (Sociedades de Inversión Especializadas en Fondos para el Retiro). Workers can also make voluntary contributions to strengthen their savings. It is recommended that workers periodically review their account statements to monitor balances and returns. Additionally, workers have the right to choose which Afore manages their resources, and they can use CONSAR to verify their administrator and account details.