MEXICO CITY, March 7 Mexico's president on
Thursday announced the expansion of a pension program that will
provide 525 pesos ($41)a month to 2.5 million more elderly
Mexicans, following through on one of many promised reforms.
The program, which had been available only to people over
70, will now include Mexicans aged 65 and above who do not have
another form of retirement savings or pension, effective
immediately, according to the Social Development Ministry, or
Older adults "need and deserve just recognition and just
support so that they live in better conditions at that time of
life," President Enrique Pena Nieto said at an event in the
western Mexican state of Jalisco.
The pension program, which will now benefit 5.6 million
Mexicans, was created seven years ago and its expansion was
included in the 2013 budget, according to SEDESOL.
It was also included in an agreement to advance a raft of
reforms signed by Mexico's major parties in December, just after
Pena Nieto took office. The reforms include revamping Pemex
, the ailing state-owned oil company, and boosting the
country's paltry tax take.
Pena Nieto, who was elected last year, is a member of the
Institutional Revolutionary Party, which governed Mexico for
seven decades before it was defeated in 2000.