The IMSS Modality 40whose legal name is ‘voluntary continuation of the compulsory regimen’, is a scheme of the Mexican Social Security Institutethrough which workers can increase your pension.
However, there are cases in which IMSS Modality 40 is not suitable. Although the majority of workers who belong to the Social Security Act 1973 can benefit, there are cases in which it would not represent a sale, but an expense.
The first thing we want to tell you is that you do not get into the Modality 40 scheme, without first advising you correctly. There are cases in which many people value quit their jobslosing benefits and good salaries, with the idea of increasing his pension.
The first thing is that you analyze, what will your normal pension be like and how could you improve it through Modality 40 of the IMSS? If you already saw that you do have chances of one good pension strategyadvised by a certified professional, you can take that step.
On the contrary, if the pension with which you are going to retire is already high and seems correct to you, you could simply reach retirement age and leave with the amount that, according to your expectations, is correct.
Cases when IMSS Modality 40 is not suitable:
It is true that, in most cases, people can benefit from a better pension through Modality 40, but this is not always the case.
One case, for example, in which IMSS Modality 40 is not suitable, is in people who have very few weeks quoted before the Institute. It is not convenient to get into Modality 40 of the IMSS if you have a few weeks, because it does not matter if you even put the highest fee.
The result will be bad, because what is done to calculate your pension is an average of the weeks you have with which you contribute through Modality 40.
Let us remember that, to obtain a pension through the 1973 IMSS Law, you must have at least 500 quoted weeks. If your case is that you have 400 or close to that amount, you will need to work to achieve the 500 weeks required by law.
However, although Modality 40 is a possibility if you do not have a patron, it does not make sense to do it with a large amount of money, or even the highest amount within this scheme, because the average will not rise enough and you would be giving away IMSS money that you could well use to invest elsewhere or save it.
It is recommended that, if you do not yet have the 500 weeks of contributions necessary for a guaranteed minimum pensionresort to reaching that number through Modality 40.
What you should do in this scenario is to pay a low fee, because the difference between this and putting the highest fee on it will be practically nil and you would be losing money that you could use for other purposes.
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Nor does it suit you when, as happens to many people, they leave their jobs to quote with the highest fees of Modality 40but then they realize that “they threw it too high” and they can’t continue paying and are dropped from the scheme.
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