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Mapfre shows less than half of Mexicans save for retirement

Mexico City, Mexico –Nine out of 10 Mexicans are worried about the amount they will receive to pay for their retirement , fearing they will not be able to maintain their quality of life upon, however, only four out of 10 save to have a better pension, revealed the Mapfre Foundation.

When presenting the study Opinion of Mexicans on the pension system, drawn up by means of a survey of 4,000 Mexicans between 18 and 60 years in 10 states, José María Romero, commercial director of Mapfre Mexico, revealed that 92 percent of Mexicans are worried about the future of their pension for retirement.

Romero said that it is an important social conscience.

“Ninety-two percent of Mexicans say that the public pension they will receive will be insufficient to maintain the current standard of living. In fact, three out of four people surveyed estimate that they will receive less than 8,000 pesos a month,” said Romero.

The commercial director of Mapfre added that although they are concerned, only four out of every 10 Mexicans recognize that they save with 32.2 percent preference for bank savings, and 27.6 percent save through pension plans or retirement insurance.

“It is the young people and the women who are most worried about this situation,” said the director of Mapfre Mexico.

Mexicans are interested in knowing what pension they will have tomorrow. “There is a huge need for information. Ninety-three percent of respondents are interested in having more information. The people who most demand information are between 30 and 45 years old, a productive age in which they begin to visualize the future.”

For his part, Carlos Ramírez, president of the National Commission of the Savings System for Retirement (Consar), reported that 6 out of 10 Mexicans are not saving for retirement. In addition, there are no independent workers, lawyers, doctors, accountants, etc., in the system, who are contributing to social security, a force of workers that make up between 12 and 13 million people in Mexico.

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