Mexican pension funds, known as Afores, have reached unprecedented levels of assets under management. As of June 2026, the 10 Afores in Mexico collectively managed 8.95 trillion Mexican pesos, which is approximately $400 billion. This figure represents a 19% annual increase from the previous year and now constitutes about 25% of Mexico's Gross Domestic Product (PIB). This marks a historic moment as the Afores' managed resources have surpassed the total credit portfolio of all commercial banks in the country, which stood at 8.3 trillion pesos in May 2026.
The growing pool of resources within Afores is significantly bolstering their role in financing the Mexican economy. By 2030, annual contributions to retirement accounts are projected to reach 1.19 trillion pesos, a 137% increase from 2025, driven by higher employer contributions due to pension system reforms. This increased flow of funds is expected to strengthen the Afores' participation in financial and capital markets.
Afores have become a critical source of funding for both public and private sectors. As of June 2026, their portfolios included substantial investments in government securities, holding 56% of Udibonos and 23% of fixed-rate bonds issued by the Federal Government. An additional 1.062 trillion pesos in government securities demand is projected between 2026 and 2030. Furthermore, Afores hold about 49% of private corporate debt, 29% of Fibras (Mexican REITs), and 95% of Certificados de Capital de Desarrollo (CKDs), indicating their broad impact across various economic sectors.
