Since Andrés Manuel López Obrador (AMLO) announced that there would be a Reform to increase the amount of monthly payment to senior citizens pensioners, many questions arose. Today we will answer about who will begin receiving $10,000 per month from the next depot.
When it was confirmed that the Pension Fund for Welfare was included in the Official Gazette of the Federation (DOF) for the benefit of some retirees of the Mexican Social Security Institute (IMSS) and the Institute of Social Security and Services for State Workers (ISSSTE), the hopes of millions arose.
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Although the first payment to IMSS and ISSSTE pensioners was delivered in July 2024, the details of the social program do not seem to be clear to everyone.
Who will receive 10 thousand pesos starting in August?
Retirees with a pension from one of the two institutions that They will begin to receive 10 thousand pesos since August are those who had a salary equivalent to that figure at the time of retirementthat is, whose salaries were 10 thousand pesos when they stopped working.
The Pension Fund for Welfare indicates that the IMSS or ISSSTE pension payment will be 100% for senior citizens with a last salary between $10,000 and $16,777.68. If your last salary was less or greater than that, it does not apply to you.
With this clear, we will explain another key concept to fully understand the topic”Complement“. The Ministry of Welfare calls the necessary payment or difference between the maximum general pension and your last salary a ‘complement’.
For example: If your last salary was $10,000 and the minimum guaranteed payment from the IMSS is $7,508, the supplement in this case is $2,492.
How does the Pension Fund work?
Since July 1, the Welfare Pension Fund began to operate as a trust administered by the Bank of Mexico (Banxico). This fund has raised some questions, especially about how to know if savings from an Afore account have been transferred to it.
According to the decree published in the DOF by President López Obrador, only the savings from inactive Afore accounts of:
– Workers of the Mexican Social Security Institute (IMSS): Over 70 years old.
– Workers of the Institute of Social Security and Services for State Workers (ISSSTE): Over 75 years of age.
In addition, savings from inactive housing sub-accounts of the National Workers’ Housing Fund Institute (Infonavit) will also be transferred.
How do I check my savings transfer?
To find out if your Afore account savings were sent to the Welfare Pension Fund, follow these steps:
– Go to the website: https://www.aforeweb.com.mx/pensiones-bienestar.
– Enter your CURP and your Social Security Number (NSS).
If your Afore account savings have been transferred to the Welfare Pension Fund, you will receive a certificate and a statement of account regarding these movements in September from your Retirement Fund Administrator (Afore).
The account statement of the formal sector worker will reflect the performance reports of the Welfare Pension Fund. Both account holders and their beneficiaries can make this query.
If the beneficiaries or the holder of the Afore account or the Infonavit housing sub-account wish to claim the corresponding amount, the Pension Fund for Welfare must have the necessary resources to return the money in full, as established by the DOF.
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