The Mode 40 allows voluntary contributions to be made increase your base salary and the number of weeks contributed, with the aim of increasing the amount of your pension. The time that Modality 40 has to be paid can range from one to five yearsaccording to the investment needs of the worker and the pension they want to achieve.
Therefore, when registering in modality 40, also called “Voluntary Continuation to the Mandatory Regime”, the worker must establish a pension strategy that determines the amount of money to be paid (established installments of 1 to 25 UMAS) and the number of years of investment.
This is because each worker has a different profile, based on their weeks of contributions to the Mexican Social Security Institute (IMSS), which are a very important element when calculating the pension.
Normally, a person with less than 700 weeks of contributions At the time of registering for Modality 40, you will have fewer possibilities of achieving very high pensions compared to the guaranteed one. And if he succeeds, Generally you will have to make much higher and longer investments.
On the other hand, workers who accumulate more than a thousand weeks quoted onwardsthey improve their pension possibilities and with a more moderate investment in Modality 40 they can see better returns in their monthly payment as a retiree. Likewise, those who consider retiring at 65 will have a better average pension thanks to the age factor.
How do I know if I am entitled to modality 40?
This program is aimed at individuals who wish to obtain a pension from IMSS under the 1973 Lawas long as they comply with specific requirements.
It is necessary to be at least 60 years old for the Late Age Unemployment pension or 65 years old for the Old Age pension.
They must also have accumulated at least 500 weeks of contributions and have not interrupted their contributions for more than five consecutive years.
It is important to emphasize that if you belong to the 1997 Law You can also sign up for Modality 40 and add cheap weeks, but you should not sign up with high fees and only enter with the minimum.
This is because your pension is not determined based on the average salary of the last 250 weeks, as is the case with workers in Law 73with which, quote high in modality 40, being of Law 97, It would be a costly financial mistake.
How do you register for IMSS modality 40?
There are two methods to register for Modality 40: online or in person. In addition to the registration process itself, each one has different implications, which you should be aware of.
Online registration: For online registration, it is necessary to have the Unique Population Registration Code (CURP), the Social Security Number (NSS) and an active email. This process consists of accessing the IMSS website, selecting the “Request for registration in voluntary continuation in the mandatory regime” option, entering the CURP and an email, and following the instructions provided.
In-person registration: For in-person registration, the same documents are required as in the online modality, in addition to a current official identification, a written application with a signature or fingerprint, and proof of recent address. This process is carried out in the IMSS Subdelegation, where the application is submitted along with the necessary documentation and the payment for the procedure is made.
Remember that before signing up for Modality 40, it is recommended that Analyze what pension you would get without doing anything extra so you can consider whether or not you need to invest.
If you want to raise it, what follows is a detailed analysis of your case, where you value the number of years to invest, the money you are going to pay, and the how long it would take to recover your investment once as a pensioner.
In these investment calculations, you must consider the already scheduled increases that increase the cost of Modality 40 from now until 2030, when it will reach its maximum, as established by the IMSS.
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