In recent years, the press has reported that records are recorded in resources retired for unemployment in affores. It is important to understand some key aspects on this subject.
Is it convenient to make an unemployment withdrawal?
It is not necessarily negative. In fact, it is a right of all who have an aphore and we face the loss of employment. To perform this, the following conditions must be met:
- Have been unemployed and discharged from Social Security for at least 45 days
- Have the account AFore open for at least three years
- Not having carried out an unemployment retirement in the last five years.
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What does it mean that retreats have reached historical figures?
It does not imply that unemployment in Mexico is constantly increasing. It is essential to recognize that a significant part of the people who work in the country are not in the formal sector, but in the informal sector or as independent workers, who are not necessarily unemployed.
The increase in retreats reflects:
- The ease and agility in the process to carry out the retirement
- Greater awareness of the rights we have regarding our AFORE account
- Growth in accumulated balances, allowing greater amounts to be removed
- The increase in average salaries, which raises the level of the latest wages and, therefore, the amounts available to withdraw.
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Are so many unemployment retreats affecting the system?
The impact on the Retirement Savings System (SAR) is minimal: last July, the withdrawals represented only 0.46% of the total assets under administration, and although the retired amount was 19% higher than in the same month of the previous year, the total assets of the system grew almost 20%. This indicates that the behavior of unemployment retreats is consistent with the performance of the system as a whole.
Should an unemployment retreat perform?
This resource can be a lifeguard in times of crisis. The mandatory contributions to AFORE constitute a heritage that, although it is intended for your retirement, in unexpected situations can help you solve a problem, get up at a difficult time or even start a new project.
However, you should keep in mind that making a retirement implies reducing your balance and decreasing the price weeks, which can affect your future pension. Therefore, if you decide to make use of this right, consider that the funds are yours and that in the future you may need them again. It is advisable to try to return them when your situation improves so as not to affect your retirement savings.
María de las Nieves Lanzagorta is Vice President of Linking in Amafore, Mexican Association of Afore, specialist in Financial Education, Communication, Personal and Business Strategy. She is also a mother who works inside and away.
Twitter @marinievesl
LinkedIn: Mari Nieves Lanzagorta
The opinions expressed are only the responsibility of their authors and are completely independent of the position and the editorial line of Forbes Mexico.
