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SourceMex PDF file 1997 right arrow Sep

Commission Reports High Enrollment Rate in Privatized Pension Program

LADB Article ID: 55063
Category/Department: Mexico
Date: 1997-09-24
By: LADB Staff

According to the Comision Nacional del Sistema de Ahorro para el Retiro (CONSAR), Mexican workers have been enrolling in the newly privatized pension program at a higher rate than originally anticipated. Under the program, workers have the option to transfer their pension plans to one of 17 private managers (Administradoras de Fondos para el Retiro, AFORE) or to wait until the year 2001, when the Banco de Mexico (central bank) will take over all remaining pension accounts from the Instituto Mexicano del Seguro Social (IMSS).

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