Introduction to Voluntary Savings for Pensions in Mexico
In September 2025, a total of 5,074 million pesos were channeled to voluntary savings for pensions, marking a 144% increase compared to the same month in 2024. However, this amount represents less than 4% of the total resources managed by the Afores (Private Pension Administration Funds) in Mexico.
Current State of Voluntary Savings
According to data from the National Commission for the Retirement Savings System (Consar), Afores held 306,149 million pesos from voluntary savings by workers. This accounts for only 3.80% of the total 8.06 trillion pesos managed by the 10 Afores in the country.
Comparison with Mandatory Contributions
In contrast, mandatory contributions totaled 110,507 million pesos in September 2025, which is 20 times more than voluntary savings. This highlights the significant difference between the two types of contributions.
Expert Concerns and Recommendations
Moisés Pérez Peñaloza, an expert in pensions and founder of Yo Jubilado, has expressed concern over the low levels of voluntary savings. He warns that this could negatively impact workers’ future pensions, as voluntary savings is the only scheme available for them to enhance their retirement funds.
Although the Ley de los Sistemas de Ahorro para el Retiro (Law of Retirement Savings Systems) was reformed in 2020 to increase mandatory contributions to workers’ Afore accounts, theoretically improving replacement rates in pensions, the benefits will only be realized by those who remain mostly formal throughout their working lives.
However, if a worker transitions from formality to informality during their career, mandatory contributions alone may not be sufficient for them to secure a pension.
How to Make Voluntary Savings
Options for Voluntary Savings:
- Deposit in commercial networks: 7-Eleven, K, Extra, Bodega Aurrera, Walmart, Walmart Express, Farmacias del Ahorro, Sam’s Club, Chedraui, Punto Recarga
- AforeMóvil, Retiro Millas, and uLink applications
- Through the website www.aforeweb.com.mx
Key Questions and Answers
- What are voluntary savings for pensions? Voluntary savings for pensions are additional contributions made by workers to their Afore accounts beyond the mandatory contributions.
- Why are low levels of voluntary savings concerning? Low voluntary savings indicate that workers may not have sufficient funds for their retirement, as this is the only scheme available to supplement mandatory contributions.
- How can I make voluntary savings? You can make voluntary savings through various channels, such as depositing in commercial networks (7-Eleven, Walmart, etc.), using AforeMóvil, Retiro Millas, and uLink applications, or through the Afore web platform (www.aforeweb.com.mx).
