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Supreme Court approves transfer of unclaimed funds from AFORES to Pensions
The High Court determined that unclaimed funds will be directed to the Pension for Wellbeing when not reclaimed by age 70.
The Supreme Court of Justice of Mexico has endorsed the transfer of unclaimed money from the Retirement Savings Funds Administrators (AFORES) to the Pension for Wellbeing Fund. This decision specifically applies to retirement and old-age subaccounts that are not claimed when individuals reach 70 years of age.
The ruling has been argued on the premise that workers will not lose their savings, which has facilitated the creation of this new fund aimed at enhancing social security for beneficiaries.