Retirement Funds Administrators (Spanish: Administradoras de Fondos para el Retiro, abbreviated Afores) are companies authorized to manage individual retirement accounts as authorized by the Secretaría de Hacienda y Crédito Público of Mexico and overseen by Comisión Nacional del Sistema de Ahorro para el Retiro (Consar).
Afores manage accounts that accumulate contributions by the employer, the federal government and the employee.
Read more about Retirement Funds Administrators: Accounts, Withdrawals
Famous quotes containing the word retirement:
“The student who secures his coveted leisure and retirement by systematically shirking any labor necessary to man obtains but an ignoble and unprofitable leisure, defrauding himself of the experience which alone can make leisure fruitful.”
—Henry David Thoreau (1817–1862)