The International Living publication released its ranking of the best countries to retire, with Mexico ranking second on the list.
Mexico was a pioneer in talking about social security, the Political Constitution of the United Mexican States of 1917 already mentioned it in Article 123. In 1929 the Constitution was amended and the creation of a Social Security Law was proposed, a fact that occurred until 1943 with the creation of the Mexican Institute of Social Security (IMSS) becoming the most important institution in terms of health and social security; however, social security coverage was operated only for parastatal, private or social administration companies.
However, in the same year the Institute of Security and Social Services for State Workers (ISSSTE) and other institutions in search of worker protection were founded, but the gap was evident among workers in the formal sector.
In 2007, the government created the non-contributory pension, that is, it created a pension for those older adults who never contributed to the IMSS or ISSSTE during their working lives.
In this context, it should be noted that, in Mexico, workers can retire between 60 years of age, due to unemployment, and 65 years of age due to old age.
The best countries to retire
Today, according to the ranking from International Living publicationand as shown in the graph above, Portugal is the country with the best conditions to enjoy retirement.
An important fact to emphasize is that, for the elaboration of the Global Retirement Indexfactors such as the climate, the cost of living and the health system were taken into account.
Thus, according to what International Living presents in the analysis, Portugal added 87.4 points out of a possible 100, which makes it the best country to retire.
With a score of 84.1, Mexico is currently the second country that meets the best conditions for workers to retire, followed by Panama, Ecuador, Costa Rica and Spain.