Withdrawals from Afores due to unemployment have been subject to an irregularity that puts workers' savings at risk. A trap scheme has been identified in which managers manipulate the amounts available for withdrawal, affecting the weeks of contributions of the account holder. This was alerted by Juan Manuel Valle Pereña, general director of Afore Coppel.
This fraudulent scheme of irregular unemployment withdrawals was discovered thanks to the joint work between Afores and Consar. It was detected that intermediaries, known as 'coyotes', manipulated the reported salaries of workers to allow for larger withdrawals. This practice seriously harmed long-term savings and the available weeks for workers' retirement.
In response to this situation, new measures have been imposed to prevent these types of fraudulent withdrawals and protect workers' retirement funds. Juan Manuel Valle Pereña emphasized the importance of strengthening control mechanisms and preventing the indiscriminate outflow of resources that negatively affects savers.
In an effort to promote financial culture and maintain a commitment to savers, Afore Coppel allocates a significant part of its assets to investment in infrastructure. Highlighting that 1 in every 5 clients in the retirement savings system belongs to Afore Coppel, which has 13.9 million affiliates, mostly young people under 30 years old.
In terms of innovation and digitalization, the company has experienced an increase in the use of its digital channels, reflecting a trend towards digitalization. The majority of voluntary contributions are made through Afore Coppel's mobile application, leading to the incorporation of new services in customer service modules.
Additionally, in order to promote a better financial culture, Afore Coppel will launch a podcast and expand its blog 'Improve Your Finances' to provide specialized content. A pension simulator and a Financial Well-Being Expo Day will be included to contribute to the economic well-being of Mexicans.
