He Mexican Social Security Institute (IMSS) offers the mode 40 as an option for those interested in ensuring a comfortable pension upon reaching old age.
Through this modality, workers who register in the voluntary continuation of the mandatory IMSS regime They can gather resources and achieve a salary of more than 50,000 pesos per month, which may grow in subsequent years.
Modality 40 is available for people who were discharged from the mandatory IMSS regime and wish to continue contributing. However, it is aimed exclusively at workers belonging to the 1973 regime, that is, those who started contributing before July 1, 1997.
How to achieve a pension of more than 30 thousand per month?
It is possible to achieve a pension of more than $30,000 pesos per month, just by contributing two years capped at the IMSS within modality 40. To do this, you must meet certain requirements.
Let’s start by saying that the pension by modality 40 is defined based on three aspects: the number of weeks contributed, the retirement age and the average salary.
Remember that the salary that is taken into account to define the pension is the last five years. In this case, we will analyze cases with three years of minimum wages and two years capped in modality 40.
For those two years, equivalent to 24 monthly payments of $9,371 pesos, a total investment of approximately 224,400 pesos will be made.
The investment will be the same for all the following cases, only varying the number of weeks and pension age.
- Case 1: Pension at age 60, with 2,000 weeks, would achieve a pension of approximately $29,300 pesos per month.
- Case 2: Pension at age 65, with 1,600 weeks, would have a pension of $30,000 pesos per month.
- Case 3. Pension at age 65, with 1,700 weeks, would obtain a pension of $32,300 per month.
- Case 4. Pension at age 65, with 1,800 weeks, would achieve a pension of $32,500 per month.
- Case 5. Pension at age 65, with 1,900 weeks, would obtain a pension of $36,800 per month.
- Case 6. Pension at age 65, with 2,000 weeks, would obtain a pension of $39,000 per month.
As these examples make clear, the same amount of money invested in Modality 40 has a different impact based on the number of weeks contributed and the pension age.
It is also important to say that the above are approximate examples of what could be obtained as a pension, based on the conditions of each case.
However, it is advisable that, if you are going to register in modality 40, you carry out a personalized analysis, since no one case is the same as the other and you need a specific pension strategy.
Also remember that you have to look for personalized advice that explains whether the investment you are going to make will be really effective, as there are cases in which modality 40 is not appropriate.
In this analysis, it has to be personal, because although in this note we gave you calculations on contributing for two years, there are situations in which only by contributing for a capped year you can achieve high amounts of pension. Again, personalized analysis with trusted advisors or in your IMSS subdelegation.
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