The IMSS Modality 40 allows workers to improve their pension by paying a higher amount during the last 5 years, however, many wonder if it is possible to obtain an improvement in the amount of the pension quote only one year.
The Voluntary Continuation to the Compulsory Regimeas it is legally named Mode 40, allows workers registered under the Social Security Act of 1973 to make voluntary contributions. By being volunteers, it is possible to register with a higher salary to improve what will come to you after your retirement.
It is extremely important to know that the Mexican Institute of Social Security (IMSS) takes into account the last 250 weeks or 5 years are very significant for the amount of your pension.
What is quoted during this period of time is averaged to obtain the final value of your pension.
How to make my IMSS pension increase in Modality 40?
In order for the pension to increase, some people seek to contribute the maximum allowed, that is, 25 UMA for 5 years, this results in about 50,000 pesos per month of pension.
Therefore, when you only contribute for one year, the increase will not be as significant if your other 4 years without Modality 40 you contributed with a minimum salary.
On the contrary, if you have a large number of weeks quoted with a good salary registered with the IMSS, and you start contributing your last year with the maximum of 25 UMAs, your salary will have a significant increase.
It is necessary to warn that it will be much better to quote for more years so that when averaged it generates a more significant salary improvement.
How much pension would I get if I only contributed for one year in Modality 40?
Because each person will have a different case, it is best to do a custom calculation for each person. However, these examples could help you to know more or less what it will be like.
It is important to take into account that if you register for this voluntary regime at 59 to retire at 60, you would only be entitled to 75% of the pension. It is only possible to obtain the maximum of 100% if you work until the age of 65.
Example 1: If during a year under Modality 40 you pay the maximum possible, which is 25 UMAs, you would be investing 88 thousand 217 pesos for your pension throughout the year. This would be 7 thousand 351 pesos monthly.
Example 2: If you have registered one thousand weeks of contributions and you retire at age 60 registering in the last year with the 25 UMAs, your pension will be just over 8 thousand Mexican pesos each month. If, on the other hand, you continue working or contributing contributions until you are 65 years old, the pension would rise to over 10,700 pesos monthly.
Example 3: Taking the previous example with the maximum as a reference, but with 1,500 weeks of contributions, your pension at age 60 would be more than 12,800 pesos per month. On the other hand, if you continue working or contributing until you are 65, your pension rises to 17,000 pesos per month.
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