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Los Fondos De Pensiones En México. Una Evaluación De Su Primer Década


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    RESUMEN Se analiza la evolución que ha tenido el nuevo subsector de Administradoras de Fondos para el Retiro en México (Afore), a lo largo de los diez años de su existencia. Se muestra que la acumulación de recursos en las cuentas individuales de los trabajadores ha generado la necesidad de modificar la ley de inversiones de esos recursos (que son invertidos por las Siefore), con el fin de abrir la posibilidad para invertirlos en instrumentos de renta variable y en títulos extranjeros. Sin embargo, las medidas adoptadas han sido insuficientes para impulsar el crecimiento de los fondos para el retiro, ya que las rentabilidades obtenidas a lo largo del período de estudio han sido limitadas y las comisiones aplicadas al manejo de los recursos aún son muy elevadas. En virtud de lo anterior, es previsible que las tasas de reemplazo que logre un trabajador al momento de su retiro, queden muy por debajo del 50% de su ingreso corriente. ABSTRACT The evolution of the new pension fund administrators subsector (Afore) in Mexico during their ten years of existence is analyzed. It is shown that the resources accumulated in the workers’ individual accounts point to the need of modifying the law establishing how those resources are invested (by the Siefore), with the purpose of allowing the possibility of investing in fixed income instruments as well as foreign financial instruments. The measures adopted by the authorities to stimulate the growth of pension funds have been insufficient until now. The return to investing in pension funds has been low and the commissions charged by the administrators for handling the workers’ resources have been and still are high. Due to this, it is foreseeable that the income a worker will receive once it retires, the replacement rate, will amount in real terms to less than 50 per cent of its current income.

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    Volume (Year): (2008)
    Issue (Month): ()

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    Handle: RePEc:col:000097:005229

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