Asked about this project, the president of the National Commission of the Retirement Savings System (Consar), Julio Cervantes, said that the plan seeks to incorporate more informal workers into the retirement savings system.
“It is focused above all on workers in the agricultural sector and on women, to reduce the barriers to access to individual accounts and in what has to do with voluntary savings, we will continue with the deepening of digital mechanisms for access to voluntary savings and more extensive promotion,” he said.
Lanzagorta added that the creation of schemes is also sought to improve voluntary savings, especially among informal workers.
In Mexico, 76.5% of adults have at least one financial product, whether it is a savings account or card, credit, insurance or a retirement savings account or Afore, according to figures from the National Financial Inclusion Survey 2024.
54.5% of Mexican workers work informally, which limits their access to an old age with resources via an Afore.
A recent study by Vanguard and the Mexico association, how are we doing? He highlighted that there are four types of labor informality: the employment of those who start a business in their home, people who work for fees, those who are dedicated to agricultural work, as well as those who perform unpaid domestic work.
Only the people who work under a fee scheme amount to 3.4 million whose savings potential is 1,677 million pesos per month.
The National Council for Financial Inclusion (Conaif) was created on October 3, 2011 and is made up of: the Ministry of Finance, the SEP, the CNBV, Banxico, Condusef, the National Insurance and Bonding Commission (CNSF), the Consar and the IPAB.
The Association of Banks of Mexico (ABM) said, for its part, that this policy will include financial education classes from the SEP, and that the union will present its progress at the next Banking Convention, which will be held in March 2026.
“There is field work coming, but there are several aspects,” said Jorge del Castillo Ponce de León, general director of the MUFG bank and vice president of the ABM.
