Savings Account for Children

In Mexico, only 4 out of 10 people are saving in their Apore for retirement, according to Cordusef . This means that the remaining 6 will be in situations of economic scarcity when they reach old age. This does not suggest … What example of savings are we giving to young people and children? Sadly I could be null. To combat this problem, LONSAR made a regulatory change in its regulations in October 2016, which aims to include the child and youth population in a voluntary savings system called Apore for children . Here we tell you how it works and what are all its advantages.

 

What is Apore for children?

What is the Afore for children?

It is a savings account that can be medium or long term in the name of the minor. In this account both the child and his parents or guardians and other family members may contribute money from very small amounts.

 

Why request an Apore for children

As an adult, having an Apore that manages your money allows you to manage your savings and generate returns. The idea is that this mentality can be transmitted to children. That safe and responsible investment pays off in the long run.

What example of savings are we giving to young people and children? Nothing better to prove adult life than having your own Apore for children.

 

How does it work?

savings for children

The Apore for children is requested through a parent or guardian with the following requirements:

  • Birth certificate or valid passport
  • Identification of the minor’s parents or guardians
  • Document proving guardianship (Birth certificate or letter issued by the competent authority)
  • Signature of parent or guardian
  • Fill data and integrate elements in the Identification File

Once the account is opened, the amount can be deposited there and as often as desired.

 

What about the money?

Apore for children comes up with the idea that minors can save / invest and experience one of the common situations of adult life. For this reason the money is saved until the minor reaches 18 years of age and after that the savings will be deposited in another Apore in the corresponding Niefore .

Know these bank accounts for children

One of the best ideas of SAR is without a doubt this account. Take advantage of the low contribution amounts and teach your children that these daily ant expenses can be better utilized, and that they can lay the foundation for future fruitful savings.

Leave a Reply

Your email address will not be published. Required fields are marked *