According to Law of the Mexican Social Security Institute (IMSS)the mode 40 is an alternative that allows workers who contribute under the regime 73. In this sense, people who started contributing before the July 1, 1997 can perform voluntary contributions to increase your weeks of contribution and salary and improve the amount of your pension at the time of retirement.
This modality gives workers the option to continue making their contributions and register with the IMSS with a salary of up to 25 UMAS and thus achieve a pension of up to 50,000 pesos upon retirement.
Giving an example, a person who turned 60, who was terminated by their employer and has 750 current weeks of contributions can pay for the last 5 years before retirement, which is an investment of about 400,000 pesos under this scheme, so he would have a pension of 14,400 pesos per month.
It might interest you: Do they pay you your salary as a pension? The SAT makes this warning
In contrast, there are some errors that can cause the loss of the pension, being one of the main ones the registration without validity. Remember that if you do not have 52 weeks of contributions in the last five years, you cannot obtain it and an automatic cancellation is generated.
A second mistake is to compare yourself with people who had good results under this modality. That is, it is believed that by investing the same and retiring at the same age, they can have exactly the same benefits as others. However, mode 40 does not work like this.
The third most common mistake in Mode 40 is to invest in half for two years (because you don’t have enough capital, for example). However, time does not determine the success of this formula. The ideal is to quote a bumped year to enjoy a satisfactory pension.
What are the requirements to apply for Modality 40?
- There must be no current employment relationship. Which means that you must be discharged from the mandatory regime. If you return to work, you will automatically be removed from Modality 40.
- Have contributed for at least 52 weeks in the last five years. Consider that if more than five years have passed since you unsubscribed, you will not be able to request this modality. If you stopped quoting before, you will not be able to request this modality.
- The pension depends on the number of weeks contributed and the salary with which a person contributes in the last five years of his working life. A person can register with the IMSS in Modality 40, even if they no longer have a current employment relationship with a salary of up to 25 UMAS, equivalent to 68,111 pesos.
Where to carry out the procedure?
The Modality 40 procedure is requested through the IMSS and you can do it for free in person or remotely.
- In person: at the window of your Subdelegation during IMSS hours and business days.
- Online: every day of the year, 24 hours a day.
The last:
High level Team of young journalists whose objective is to explain the most relevant business, economic and financial news. We are passionate about telling stories and believe in citizen and service journalism.