Pension Funds Manager (AFORE) for remittances saving is created

Carlos Ramírez, Chairman of Mexico's National Commission for the Pension Saving System, informed that the program is promoting remittances saving from the U.S.
Photo: Cashier looking at dollars - Mike Alquinto/EFE
06/09/2017
18:09
Antonio Hernández
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Mexicans living in the United States who send remittances to their families already have the possibility of saving their money for their retirement in Afore XXI Banorte, being the first administrator in Mexico providing this alternative.

On Tuesday, Carlos Ramírez, Chairman of Mexico's National Commission for the Pension Saving System (Comisión Nacional del Sistema de Ahorro para el Retiro abbreviated Consar), said that the following month, eleven Pension Funds Managers (Administradora de Fondos para el Retiro abbreviated AFORE) will announce the progress of a program seeking to promote remittances saving from the United States.

Afore XXI Banorte announced that Mexicans registered in their service will be able to deposit remittances directly from mobile devices or a computer.

Chief executive of Afore XXI Banorte, Juan Manuel Valle, explained that Mexicans who already save on average 10% of their income in the United States are the greatest potential of the market, being a population planning to return to Mexico.

Along with the launching of “AforeMóvil” app by Consar, it is possible for Mexicans to register in an Afore such as Afore XXI Banorte on the following web site: https://ulinkremit.com/.

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