Morena seeks to accelerate voting on pension reform in the Chamber of Deputies | News from Mexico

MEXICO CITY.- The match Brunette is promoting an initiative to reform the laws of Social Security and the Institute of Security and Social Services of State Workers with the objective of creating a pension fund that guarantees a 100% pension to Mexican workers. According to the plan, when workers reach 70 years of age, the resources from their individual accounts in the Afore would be transferred to a trust administered by the Bank of Mexico and Treasury.

The House Budget Committee included a favorable opinion to this initiative, which will be voted on next week in the Social Security Commission and its discussion and approval in plenary is expected. This proposal has generated controversy, with criticism from the BREADwhich considers it a confiscatory measure of workers’ savings.

For its part, Ignacio Mier, coordinator of Morena, has defended the initiative, arguing that it seeks to guarantee a decent pension to more than 45 million Mexican workers. He has denied that it is affecting the Afore and has highlighted that this is a necessary step to improve the financial security of workers in their retirement stage.

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The proposal also seeks to use resources from state surpluses and remnants from the extinction of a financial entity to feed this pension fund. Although it has received criticism and disagreements from other political parties, Brunette He hopes that the initiative will be approved before the end of the current legislative period.