Controversial Infonavit Reform Approved in Mexico

The recent approval of the Infonavit reform has sparked concerns among opposition leaders about the potential misuse of workers' savings. With the aim to build over a million homes, critics warn that the new measure could endanger the savings of 70 million individuals as financial decisions shift to a new subsidiary. Workers are advised to monitor their accounts carefully.


Controversial Infonavit Reform Approved in Mexico

The approval of the reform to Infonavit has generated concern among the opposition and in some sectors of society. Senator Ricardo Anaya expressed his worry about the possible consequences of this measure, which would allow the use of workers' savings for the construction of housing.

Anaya pointed out that despite promises to modify the proposal, Morena did not introduce significant changes to the project. He warned that the funds of more than 70 million people could be directed to a subsidiary without accountability, which would pose a risk to life savings.

The senator recommended that workers carefully review their account statements to detect possible deductions in the savings from the National Workers' Housing Fund and to be alert for any unusual movements.

The reform, approved with 71 votes in favor in the Senate, is part of President Claudia Sheinbaum's housing plan and seeks the construction of more than one million properties. Among the changes that the reform entails is the creation of a subsidiary for Infonavit within 30 days of its entry into force, as well as auditing its internal operations and the possibility for the institute to become a builder of social rental housing.

Other adjustments include the power of the Board of Administration to annually approve the investment budget in housing, as well as transparency in the publication of contracts, projects, and suppliers. Tripartite representation is maintained in the Board, with three representatives from each of the employer, worker, and governmental sectors.

Given the doubts and rumors about possible misappropriations of funds, Anaya advised Mexicans over 65 years old to withdraw their savings and protect them in a safe account. For those considering purchasing a home, he suggested using available resources responsibly.