Each PEMEX pensioner receives MXN$41,000 a month

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Only a few months away from the conclusion of Mexico’s present administration, Mexican Petroleums (PEMEX) cut down its active workforce by 29,715 people in six years , though 26,242 of them became pensioners and are still receiving their wages and benefits.

The state-owned company has 114,916 active employees , though records show that there are 105,069 retired workers who are still receiving their pension . Each of them accounts for an average of 41,401 pesos a month in salary and benefits, according to data from June 31 .

In 2012 , when the company reported 78,827 pensioners , each retired employee cost the company an average of 32,689 pesos a month , according to official numbers from the Ministry of Finance and Public Credit (SHCP) .

Benefits or decent salaries?

Between the beginning and closure of the present administration, the personal services budget for retired workers or pensioners went from 30,992 million pesos in 2012 to 52,490 million in 2017 . During the first semester of this year, the expense reached 26,102 million pesos .

Factually, the government’s strategy to reduce PEMEX’s workforce was based on an invitation or suggestion for workers to enjoy the benefits of retirement, which is why 26,242 of these oil company workers became pensioners during the six-year period, and still represent a great expense for the company.

In real terms, according to information provided by the oil company, only 3,473 employees were fired, terminated, or decided to quit on their own accord, barely representing a 13.2% of the total workforce reduction.

According to data from the Sustainability report of 2017 , most oil company workers who decided to retire in the past six years fell within an age range from 50 to 54 years , for a total of 6,036 workers .