In our professional lives we have two options for retirement provision: Pension fund managers (Afores) and personal retirement plans. If you want to know theirs Differences and which one suits you best Unotv.com explains the scope of the individual measures so that you have an adequate pension in retirement.
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What are pension plans and personal retirement plans?
read outside You are part of the compulsory pension scheme if you contribute to it IMSS or EATSTE. They manage employees’ funds and invest them in various financial instruments such as: Stocks, bonds and real estate. You will have one personal account into which the contributions you make as an employee, as well as contributions from your employer and the government, are deposited.
Come on Personal retirement plans are a voluntary option that allows people to build one additional retirement funds to those mentioned above at financial institutions or insurance companies. They offer more flexibility and control because you can decide how much and how you want to contribute to your plan, whether in Dollars, Pesos and Investment Units (UDIS).
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An advantage of UDIS They ensure that your money retains its purchasing power over a longer period of time and guarantee that your savings grow; In addition, they help you protect your savings from inflation.
What are the differences between both?
In the outside, Your pension contributions are controlled by the administrators while you decide to hire one Personal retirement plan at a financial or insurance institution Yes, you can decide how these funds are invested.
Come on Personal retirement plans allow for adjustments to your contributions But in the aforementioned they are more regulated. Afores offers you variable returns based on market results, while Personal retirement plans offer more stable and predictable options but it depends on the investment strategy you choose.
Which one is best for you in your retirement?
If you have a permanent job, It is convenient for you to have both options as they complement each other and do not compete with each other. because the most important thing is that Diversify your savings to ensure a stable and secure retirement.
In the Personal retirement plans one must Check whether they are properly registered with the Ministry of Finance so that you can deduct taxes. The choice between the two retirement planning options depends on the following factors: the security, investment control and flexibility you are looking for.
