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Retirement fund managers (outside) obtained a profit of 5,125 million pesos between January and November 2022, which meant a 65% drop, in real terms, when compared to the same period last year, according to data from the National Commission of the Retirement Savings System (Conser).
The contraction in profit Retirement Savings System (SAR) is linked to the commission cap –approved in the reform to the SAR Law of 2020– that the Afores charge on the worker’s balance and which forced a historical decrease from 0.80 to 0.57% in the average commission for this year .
It is cap on commissions It hit the Afores because the income from this item is the main source of their resources.
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