What are Afore commissions and why are they applied?
Commissions are charged for the resource management service, safekeeping of money and investment.
Each worker is automatically discounted according to the money they have saved. The National Commission of the Retirement Savings System (Consar) estimates that this 2023, with the reduction in commissions for voluntary savings, workers will be able to save close to 24,000 million pesos.
This 2023 the Afores charge an average commission of 0.566%.
How are these commissions calculated?
The commissions charged by the administrators are based, by law, on what is charged by three foreign countries: the United States, Colombia and Chile.
Since 2022, the average charged by the Afores is 0.57%, remaining at those levels.
What are the Afores commissions spent on?
The commissions are used by the administrators to hire personnel, who guide and help the workers, in the payment of operations when making investments, in technological equipment and advertising.