The investment in making the processes more efficient also occurs after the reform of the retirement savings system capped the commissions charged by all Afores in Mexico at levels of 0.57%.
David Razú explained that with these improvements that streamline processes, it also impacts service time in branches. “Our average is less than 20 minutes and that without neglecting excellence,” he pointed out.
Technology will not only help in the management of procedures such as withdrawals of money for unemployment or marriage; They also have a pension calculator that will help clients know how much money they will receive at retirement.
“This is very important because it will allow people to see how much they could get and, above all, encourage voluntary savings. We need people to save voluntarily and we have a strategy where a percentage of what you buy online goes to to your voluntary savings account,” he added.
Afore XXI Banorte managed 35,268 million pesos in voluntary savings until the first half of 2022. It is the Afore with the highest number of voluntary savings in the system. In addition, the manager highlighted that after the approval of the new reform to the Afore, which reduced the weeks of contributions, about 9,000 workers have been able to retire.
Despite the fact that the Afores have recorded losses of 360.989 million pesos until June, Razú Aznar stressed that being long-term investments, the administrator’s resources have grown above inflation and that there is no instrument that gives the same returns . In fact, the average balance of Afore XXI Banorte affiliates is 105,000 pesos.
“It is very important to convey to people that all long-term investments at some point, for reasons of the financial markets, may have a moment of loss and it is very important not to confuse this concept with a loss. In the long term it will grow ; 52% of the resources in the Afore are pure yields,” he assured.
During the last edition of the Afore Fair in the Zócalo of CDMX, which was held last week, Afore XXI Banorte served 1,906 people giving them their updated account statements, data modification and unemployment withdrawals.
The next Afore Fair will be held the second week of November in Monterrey, Nuevo León. The procedures that workers can do are:
- Account status
- Pension procedure
- Withdrawal of total resources
- Transfer of Afore
- Afore account registration
- Voluntary savings deposits
