Introduction to José Ignacio Jiménez and Afore Inbursa
José Ignacio Jiménez, the director of Afore Inbursa, has emphasized the organization’s primary mission: to deliver the best returns for workers. With over a million workers under its administration, Afore Inbursa manages a significant portion of the workforce’s retirement savings in Mexico. The company oversees approximately 201.839 million pesos from the total 8 billion 591,001 million pesos managed by the pension system.
Investment Focus
Jiménez acknowledged that a substantial portion of the resources under Afore Inbursa’s management is invested in corporate and government debt. He explained that the rapid growth of workers’ funds does not match the pace at which national markets are developing. As a result, Afore Inbursa can only invest up to 20% of workers’ funds in domestic and international variable income, with the remainder allocated to more developed fixed-income markets.
Supporting Infrastructure Development
While Jiménez supports infrastructure development in Mexico, he stressed that his primary mandate is to provide the best returns for workers while carefully managing risks. He mentioned that Afore Inbursa would be eager to participate in projects with proper government structures and partnerships, provided the risk-return balance is favorable.
Challenges and Goals
Jiménez highlighted the progress made in formal workers’ retirement savings and the successful pension reform aimed at improving replacement rates. He acknowledged that, although Mexico won’t have the world’s best replacement rates by 2030, it will be among the top performers in Latin America.
However, Jiménez identified the need to enhance financial education among younger generations, encouraging them to save voluntarily for retirement. He also expressed concern about integrating the 54% of the Economically Active Population (EAP) who are informal into the pension system, emphasizing the importance of helping those who previously cotizated to start saving within an Afore and understand their pension options upon retirement.
Key Questions and Answers
- What is Afore Inbursa’s primary focus? Maximizing returns for workers while carefully managing risks.
- What percentage of workers’ funds can Afore Inbursa invest in variable income? Up to 20% in domestic and international variable income.
- What is José Ignacio Jiménez’s stance on infrastructure development? He supports it, provided the risks are managed and proper government structures and partnerships are in place.
- What challenges does the pension system face? Integrating informal workers into the pension system and enhancing financial education for younger generations.
