Rise in complaints against AFORES in Mexico

In the past three years, complaints and claims by the workers before the Federal Labor Defense (PROFEDET) against the Administrators of Retirement Funds (Afores) have increased significantly. Every day workers have 150 lawsuits against Afores by defaulting on its payments, lack of liquidity to cover pensions, unauthorized transfers and differences in the amount. In 2008, 45 percent of the lawsuits were filed against the Afores, while for 2009 the figure rose to 50.1 percent.

As a measure to the above mentioned, in January 2011, the National Savings System for Retirement (Consar) will have a service indicator of the Afores, to evaluate the services and response times given to workers. It will be a ranking that includes the 14 Afores that are in the market, measuring the number of complaints the Afore has, speed with which serves workers and complaints, and the quality of information provided. Thus, workers will be better informed to know what Afore choose (see here).