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COUNTRIES REPORT Mexico

COUNTRIES REPORT Mexico. INVERCO. April 12, 2000. Mexico Pension System Results in 1999. Total Affiliation: 15’594,503 workers. Around 40% de la Economicaly Active Population (PEA). 65% Man, 35% Woman. 60% of total affiliates receive contributions in the last two months of 1999.

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COUNTRIES REPORT Mexico

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  1. COUNTRIES REPORTMexico INVERCO April 12, 2000

  2. MexicoPension System Results in 1999 • Total Affiliation:15’594,503 workers. • Around 40% de la Economicaly Active Population (PEA). • 65% Man, 35% Woman. • 60% of total affiliates receive contributions in the last two months of 1999. • 85.4% of the affiliated workers have less than 45 years old.

  3. MexicoPension System Results in 1999 • Average Salary:Around 455 USD Monthly. • Total Accumulated Funds invested in the SIEFOREs reached 11,423 millon USD. • 97.4% are invested in Government Securities and 2.6% in private instruments with a high calification grade. • Returns in 1999 reach 26.86% in nominal terms and 13.07% in real terms. Note: 1 USD = 9.50 pesos, M.N. at December 31, 1999.

  4. MexicoPension System Results in 1999 • The Voluntary Contributions reach 34.8 Millon USD. • In average a worker has accumulated 1,163 USD in the Subaccount of Retirement and 893 USD in Housing. • The Number of Accumulated transference between Afores are 39,926.

  5. MexicoChallenge and Tasks for the year 2000 • System Consolidation. • Ammendements to the Actual Investment Regime. • Create New SIEFOREs. • Create a savings´ Culture in the Population, that Incentive the Voluntary Contributions. • Maintain the dissemination of the New Pension System. • Make a Mechanism that allocate the Cuenta Concentradora ( Service to Workers That Have Not Chosen a Retirement Fund Manager ( Afore)).

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