SAR/Afore Retirement Accounts: Who Qualifies and What You Get
Learn how your mandatory retirement savings work, who contributes to your account, and how your investment fund choices impact your future.
This is a mandatory savings system designed to build up funds for your retirement through individual accounts.
Who it's for
This scheme is for all employees working in the formal sector.
What you get
You receive a retirement savings account that is managed by private financial institutions. These accounts hold the funds intended for your life after retirement.
What it costs you
The account is funded through monthly contributions. These payments are split between three sources: your employer, you as the employee, and the government.
The catch to know
Your money is placed into an investment fund called a "Siefore." If you choose the wrong fund for your age, it can significantly impact the returns you earn over time.
How to apply
- Confirm your employment status within the formal sector.
- Verify which private financial institution is managing your account.
- Monitor your investment fund to ensure it matches your age and goals.
- Visit the official portal for more details: https://www.gob.mx/consar