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Mexico switched from a pay-as-you-go pension system to a system of individual pensions accounts in 1997 for the private sector and in 2007 for the public sector. Despite this reform, the country’s pension and retirement systems appear limited, unequal and non-viable. The limits stem from pension coverage, which is intended solely for urban and salaried employees and overlooks the rural sector and informal work. The unequal nature of the system results from excessive advantages that are not offset by contributions and which are granted in a corporative spirit to political power groups, while the benefits for most contributors remain scant. The non-viable aspect of the system is highlighted by forecasts on pension payments that reveal untenable amounts. Moreover, with the introduction of reforms in favour of a funded system, the pensions attributed will be extremely low for most Mexicans. The search for solutions has led to the proposal of a three-pillar system accompanied by a universal pension requiring social and economic restructuring.