Mexico 2024 election summary for Friday, March 1, 2024

Mexico 2024 election summary for Friday, March 1, 2024
Claudia Sheinboam during her election campaign launch event.  (Photo: Jaime Lopez/Getty Images)

Claudia Sheinboam during her election campaign launch event. (Photo: Jaime Lopez/Getty Images)

During her campaign opening speech, the ruling Morena Party candidate presented her 100 election commitments, in which she highlighted policy proposals related to labor and workers.

“We will support the presidential initiative aimed at restoring fair pensions, and the pension reform of the neoliberal era, under Zedillo, will be rolled back,” he said, referring to the so-called “Law 97” on pensions. Issued during the presidency of Ernesto Zedillo, of the Institutional Revolutionary Party, which today forms part of the opposition coalition Broad Front for Mexico.

Some context: Nearly 27 years ago, Mexico changed its workers' pension system. Then we moved from a model in which the government pays the worker a pension from its resources, according to the amount of their last salaries, to a model in which each worker saves for his retirement, which is what he receives as a pension.

On July 1, 1997, the new Social Security Law, which has been in effect until now, entered into force, the model of which is that each worker has an individual account in which his contributions, employer contributions, and employer contributions are added. .

On February 5, the current president, Andrés Manuel López Obrador, introduced a pension reform “so that 65-year-old workers who started contributing after July 1, 1997 – when the current pension reform took effect – will be able to receive A pension salary “equal to their last salary, up to an amount equivalent to the average salary registered with the IMSS (Mexican Institute of Social Security).” This, provided that “the pension they receive under the law is less than the stated average.”

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Aygen Marsh

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