Consar Sets Afore Rule Update for November Publication as 2025 Gains Near 1 Trillion Pesos

Overview

• The investment-regime changes are slated for publication in the Diario Oficial next month, with Consar highlighting explicit permission to keep buying Mexican securities issued in foreign currency.
• From January through September, Afores recorded roughly MXN 900 billion in capital gains, and Consar projects total 2025 plusvalías around MXN 1 trillion.
• Afores closed September with more than MXN 8 trillion in assets under management, with year-end balances expected to be near MXN 8.2 trillion, according to the regulator.
• Amafore reported about 170,000 unemployment withdrawals in September, with MXN 27.85 billion withdrawn in January–September; Consar attributes a large share of withdrawals to unauthorized intermediaries known as coyotes.
• Consar clarified that pension denials are issued by the IMSS, not by Afores, noting about 108,000 people qualified for a pension since 2021 and roughly 6,000 fell short after not reaching the required weeks of contributions.