Introduction
Saving for retirement is more than just setting money aside; it’s about growing your funds with knowledge. In Mexico, only 42.2% of the population has an Afore (Pension Fund Management and Administration Institute account), and only 7.9% makes voluntary contributions, according to the latest National Financial Inclusion Survey.
The Role of Personalized Pension Advisors
In this context, the figure of Personalized Pension Advisors, established by CONSAR in February 2022, gains special relevance. These advisors help workers maximize their resources to increase their pension. Afore XXI Banorte’s Personalized Pension Advisors have extensive training in finance, customer service, empathy, and leadership. They operate under the CASA (Clear, Friendly, Sensitive, and Agile) protocol to provide a personalized and efficient experience.
Expertise and Customer Service
Yanneth Cruz, a Personalized Pension Advisor with over 15 years of experience at XXI Banorte, emphasizes the importance of consistent saving, income management, and financial literacy in building a dignified retirement. She highlights the role of Personalized Pension Advisors in defining personalized strategies and making informed decisions throughout one’s working life, especially regarding voluntary savings, where XXI Banorte leads the sector according to Consar data.
Voluntary Savings Growth
By the end of 2024, Afores collectively registered 173,341 million pesos in voluntary savings, a 22.8% increase from the previous year. However, this type of saving only represents 3.55% of all system resources, underscoring the urgent need to promote a savings culture.
Personalized Planning and Support
With the help of Personalized Pension Advisors, workers can have tailored planning, enabling them to define necessary actions for a better retirement based on their current life stage, goals, and labor profile. This includes calculations on the amount of voluntary savings needed to improve their retirement. Additionally, advisors assist clients in completing simplified procedures, resolving doubts, and understanding required documentation for any Afore request.
Commitment to Financial Inclusion
David Razú Aznar, General Director of XXI Banorte, stresses the company’s commitment to financial inclusion through empowering Personalized Pension Advisors. Their role is essential in fostering a long-term savings culture that encourages voluntary contributions, ensuring workers have a better quality of life during retirement.
Key Questions and Answers
- What is the significance of personalized pension advice? Personalized pension advice helps workers maximize their resources and make informed decisions about their retirement, leading to a more dignified retirement.
- Why is voluntary savings important? Voluntary savings, though underutilized, represent a significant step towards building a solid retirement patrimony.
- How does Afore XXI Banorte support its clients? Afore XXI Banorte’s Personalized Pension Advisors provide tailored planning, simplify procedures, resolve doubts, and guide clients through required documentation for Afore requests.
- What is the role of financial literacy in retirement planning? Financial literacy is crucial for consistent saving, income management, and making informed decisions throughout one’s working life.
