Introduction to the Fondo de Pensiones para el Bienestar (FPB)
The Fondo de Pensiones para el Bienestar (FPB) was established by the Mexican government to supplement retirement income for formal workers earning less than 17,364 pesos monthly. This fund aims to ensure these workers receive their full salary upon retirement.
Background and Relevance
The FPB was initially funded with 24,238 million pesos from over 2 million inactive accounts in the Afores (private pension funds). The government reformed laws of IMSS, ISSSTE, and Infonavit to transfer unclaimed retirement savings (including housing savings) from accounts of individuals aged 70 or older to the FPB.
Recent Developments and Returns
In the first quarter of 2025, the FPB returned 631.3 million pesos to workers who had contributed to IMSS or ISSSTE but had previously held inactive Afore accounts. This is part of the FPB’s mission to return unclaimed retirement savings to their rightful owners.
In addition to these returns, the FPB has also paid out 77.7 million pesos in pension complements since its creation until the end of the first quarter of 2025. In January-March 2025 alone, the FPB distributed 41 million pesos in pension complements, marking the highest amount paid in any single trimester.
Transparency and Worker Rights
The National Commission for the System of Retirement Savings (CONSAR) reported that, in celebration of the FPB’s first anniversary, 5,061 million pesos from 210,100 inactive accounts were transferred to the FPB. This was the second transfer of its kind since the FPB’s inception.
Moreover, CONSAR announced that the FPB had returned 1,486 million pesos to 19,289 workers who had reclaimed their savings by the end of its first year. However, the FPB’s returns reported in the first quarter of 2025 exceed these figures.
Mexican laws protecting IMSS, ISSSTE, and Infonavit workers’ rights to claim these resources emphasize that unclaimed savings belong to the individuals, regardless of time passed. Consequently, the FPB regularly reports on returns to workers trimester by trimester.
Key Questions and Answers
- What is the Fondo de Pensiones para el Bienestar (FPB)? The FPB is a Mexican pension fund established to supplement retirement income for formal workers earning less than 17,364 pesos monthly.
- What is the purpose of the FPB? The FPB aims to ensure these workers receive their full salary upon retirement by returning unclaimed retirement savings to their rightful owners.
- How much has the FPB returned to workers? By the end of the first quarter of 2025, the FPB returned over 2.1 billion pesos to workers who had previously held inactive Afore accounts.
- What are pension complements? Pension complements are additional payments made by the FPB to supplement workers’ retirement income, ensuring they receive their full salary upon retirement.
- How transparent is the FPB regarding returns? The FPB regularly reports on returns to workers trimester by trimester, ensuring transparency and accountability.
