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Treasury ‘comes out’ for the Pension Fund for Wellbeing: ‘Money will not be taken from workers’

ACAPULCO, Guerrero.- Given the uncertainty of workers about the use of their resources in the Afore to finance the Pension Fund for Welfarethe Ministry of Finance ruled out taking the pension balances, which amount to to more than 6 billion pesos.

During the 87th Banking ConventionUndersecretary Gabriel Yorio reiterated that President Andrés Manuel López Obrador has made it clear that resources will not be taken from pensions, since “it has never been the spirit” of the initiative.

The official stressed that in the current law, there is an article that allows resources from inactive accounts can be used temporarily, and if there was a request they would be paid.

Yorio added that most of the financing sources contemplated in the initiative Pension Fund for Welfare They are budget savings to which the inactive assets of the Afore accounts would be added, which according to some administrators, are minimum resources.

This does not mean in any way that resources will be taken from workers”, he stressed.

He explained that inactive accounts have not been used for a long time and are usually They are very low balancesbut which could be an important part of the Pension Fund for Wellbeing.

Given the possibility that they will be used to finance the budget deficit, the undersecretary assured emphatically “no.”

On the other hand, Gabriel Yorio indicated that it will be the economic package for the following year in which the way to reduce the deficit and achieve fiscal consolidation is evaluated, which the Secretary of the Treasury, Rogelio Ramirez de la O, projected for 2025 with which will reduce the imbalance in the matter.

When will the Welfare Pension Fund initiative be discussed?

The ruling was ready to be discussed and possibly approved in the Chamber of Deputies by the majority of Morena and allied parties. However, the document was ‘taken down’ from the plenary session after it was detected that the initiative was not the same as that which had been approved in committees.

The opposition accused Morena of putting a ‘black hand’ in drafting the opinion of the reform that he proposes to createthe Pension Fund for Welfare,Therefore, the discussion was moved to next Monday, April 22.

The PAN claimed that the paragraph that indicated thatAfore resourcesthat would be transferred to the Pension Fund for Wellbeing would only be those from the inactive accounts.

Jorge Romero, coordinator of the PAN deputies, claimed that the text was changed “to establish that “all accounts go to the Fund, not only those that have not contributed for 10 years or those that have turned 70 years old, in the case of the IMSS, and 75 years in the ISSSTE. It is the small detail of the ‘parliamentary elf’,” he said.

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