IMSS Pension: What is the Vicente Fox Factor, how much does the payment increase and who does it benefit?

One of the most anticipated moments for workers in the formal sector is, once the requirements have been met, to be able to have access to a pension, either from the Mexican Social Security Institute (IMSS) or the Institute of Security and Social Services of State Workers (ISSSTE).

Now, in the specific case of the Mexican Social Security Institute (IMSS), although many are unaware of it, when it comes to Calculating how much will be deposited month by month to a worker after completing their formal work activities, something known as the “Fox factor” is taken into account.what is it?

In the first instance, it will be necessary to remember that, during his government, the current former president Vicente Fox Quesada promoted a reform that directly influences the calculation of pensions of the Mexican Social Security Institute (IMSS).

It is worth mentioning, in this sense, that thanks to the Fox factorbeneficiaries of IMSS pensions, whether from the Law of '73 or the Law of '97, may have increases in their monthly payments.

Derived from the decree of reform to articles 14 and 24 transitory of the Social Security Lawwhich was published in the Official Gazette of the Federation (DOF) in December 2021, The well-known Fox factor is applied in the following way in IMSS pensions:

*Pensioners whose pension amount is less than the general minimum wage in force in Mexico City, the money will have to be equal to the amount of the current minimum wage.

*For pensioners aged 60 or over who enjoy a pension equal to or less than the general minimum wage, the amount of their pension will be the result of multiplying the pension they receive as of December 31, 2003 or the one established if they retire. after that date by the factor of 1.111.

*For orphaned and ascendant pensioners, the amount of the pension will be the result of multiplying the pension they receive as of December 31, 2003 or the pension determined if they retire on that date by a factor of 1,111.

*Meanwhile, for widows whose pension they receive is equal to or less than 1.5 minimum wages in force in CDMX, the amount of their pension will be the result of multiplying the pension they receive as of December 31, 2003 or the pension that establish when granting it if it is after said date.

However, we must not lose sight of the fact that the final amount to be received as an IMSS pension is calculated according to the history of each worker. To make a more accurate estimate, you can use the IMSS calculator.

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