Introduction: Andrés’ Dilemma
Andrés, a 65-year-old man about to retire, decided to attend the Afore Fair 2025 to understand the retirement process. It was there that he discovered he had never registered for an Administratore de Fondos para el Retiro (Afore). What does this mean for his situation?
Background: Afore in Mexico
In Mexico, workers who contribute to any social security institute have the right to have an individual Afore account opened for them. These contributions include funds from the government, employer, and employee, known as tripartite contributions. Although these accounts are automatically created, workers must register with one of the 10 administrators that make up the Retirement Savings System (SAR).
The Extent of the Problem
According to the National Commission for the Retirement Savings System (Consar), there are approximately 18 million unregistered individual accounts, most belonging to young people under 30 years old.
Consequences of Not Registering for an Afore
Under current regulations, workers have one year from the start of their working life to choose an Afore. If they fail to do so, their account will be assigned to the administrator offering the highest returns. If, after another year, the worker still hasn’t registered, Consar will reassign the account if it’s not generating satisfactory returns.
Experts’ Recommendations
Julio César Cervantes, Consar’s president, urged all formal workers to locate and register their Afore accounts to monitor them and take advantage of the benefits. “We invite everyone to register to receive statements, view returns, access voluntary savings, and retirement for marriage or unemployment,” Cervantes stated during the Afore Fair 2025 inauguration.
Guillermo Zamarripa, president of the Mexican Afore Association (Amafore), advised those who haven’t registered to consider which administrator best suits their needs by evaluating returns, commissions, and other relevant factors.
Registration Process for Your Afore Account
Adolfo Arditti, Afore Sura’s executive director of customer experience, explained that registering the account only requires a CURP (Unique Registry of Population) and following simple steps in the Afore Móvil app.
- Capture your CURP
- Fill out your personal information
- Take a selfie
Arditti explained, “With the app, you only need to capture your CURP, fill out your personal information, take a selfie, and you can register your account with your preferred Afore.” The process can also be completed in person at any administrator’s branch.
Andrés’ Situation and Next Steps
Andrés must first complete the registration process for his Afore to begin planning for retirement. His disadvantage now is that he doesn’t know how much he has saved over the years of work or what his pension amount will be. Had he known this information earlier, he could have taken steps to avoid retiring with at least 30% of his last salary.
Final Notes
Consar emphasizes that the process is completely free and warns against false managers who request payment for this or other Afore-related procedures.
Key Questions and Answers
- What happens if I never registered for an Afore? You have one year from the start of your working life to choose an Afore. If you don’t register, your account will be assigned to the administrator offering the highest returns. After another year without registration, Consar may reassign your account if it’s not generating satisfactory returns.
- How do I register for an Afore account? You only need your CURP and follow simple steps in the Afore Móvil app. Capture your CURP, fill out personal information, take a selfie, and register with your preferred Afore. The process can also be completed in person at any administrator’s branch.
- Why is registering for an Afore important? Registering allows you to monitor your account, view returns, access voluntary savings, and retirement benefits for marriage or unemployment. It ensures you have a clear understanding of your retirement savings and helps avoid potential financial disadvantages.
