Requirements to Retire or Pension in Mexico

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In Mexico there are laws for workers who go into retirement, and for this same reason if you are a worker and live in Mexico you should know the retirement requirements by the Mexican Social Security Institute.

Below we are going to give you details on the subject that elderly Mexican citizens should know with great interest before moving on to this honorable situation and during this retirement process.

It is known that the laws of 1973 and 1997 are two different laws, where the majority of workers who were born before 1970 today qualify as the majority of middle-age workers and they can choose to choose their benefits according to the law to obtain the pension that best suits them and adapts to what they need.

Young people who are starting their professional life or currently working cannot elect these benefits as the average mature worker, because they began to contribute after the decree of July 1, 1997, and therefore, the new law for new workers comes into force.

Today There are two types of schemes. stipulated by the old and the new law. For greater accuracy, the law of 73 It is for people who started contributing before July 1, 1997. And the law of 97 for people who started contributing after that date.

What are the Requirements to Retire?

To retire from IMSS:

For the 1973 Act, Section 138 of the Social Security Act:

  • be 60 years old
  • Have at least 500 Quote Weeks
  • Have no Problems with the Name and Date of Birth According to the Registration of the Birth Certificate.

For the 1997 Law, Article 162 of the Social Security Law:

  • Being 65 years old,
  • Have at least 1,250 weeks of contribution
  • Meet the requirements prior to the Law of ’73, (they are the same)

To retire for old age by the IMSS:

  • Being over 65 years old.
  • Comply with at least 500 or 1250 quotes.
  • Proof of Affiliation AFIL-02.

What documents do I need to retire?

  • Personal identity card.
  • Birth certificate.
  • Valid passport.
  • Voting card.
  • Military Service Card.
  • Proof of address.
  • Afore account status.
  • In case you have a living wife, you must attach the birth and marriage certificate
  • CURP (Unique Population Registry Code).
  • The Acts should not be more than 1 Year of Validity
    Card or Credential

What is the family allowance?

The family allowance is a benefit offered by the pension of the Mexican Social Security Institutehowever, it must be taken into account that it will be necessary to comply with certain retirement requirements by the IMSS and enjoy these allocations, which are additional percentages that are granted to the pensioner depending on how many direct family members you have.

Said assignments by preference will be delivered directly to the insured, and the part corresponding to the children may be delivered to whoever is in charge of them or to the institution that is in charge of them.

If the pensioner has:

  • Wife or concubine, additionally will have 15% more.
  • Children under 16 years of age and under 25 years of age where it is stated that they are studying, it will additionally be 10% for each one.
  • In case of not having a spouse or children, it will additionally be 10% for each of the parents who depend economically on the pensioner.
  • In the case of not having a spouse, children or ancestry that are financially dependent on the pensioner, assistance will be granted where it will be reflected with 15% of the corresponding amount.
  • If you have an ascendant with the right to the family allowance, you will be granted assistance with the 10% that you must enjoy.

From what age can I get a pension from the IMSS?

One of the most frequently asked questions for the average worker is, “At what age can I retire?” “When can I opt for an old-age pension?”, And the answer is simple:

To date, the law stipulates that retirement for the IMSS worker is from 60-65 years old depending on the type of law that the insured has by choice, and for those who opt for the old-age pension it is for people who are 65 years of age or older.

To enjoy this benefit offered by the Mexican State it is necessary to comply with all specifications, requirements and documents required by the Mexican Institute of Social Security.

Likewise, by complying with all the requirements, workers who retire from the IMSS will receive their pension without any novelty, in the same way for people who wish to have their old-age pension. In this way, the insured and their families can have the benefits offered by this institution.

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