Full access to Entrepreneur for $5
Subscribe

How to retire under the 40 IMSS modality with a pension of up to 50 thousand pesos per month

If you recently left your job due to various work circumstances, you can continue generating your contributions to achieve a pension of up to 50,000 pesos per month at the time of retirement.

By
This article was translated from our Spanish edition.
This story originally appeared on Alto Nivel

People who began to contribute before July 1, 1997 have the option of retiring under Modality 40 of the Mexican Institute of Social Security ( IMSS ). We explain how to process it.

Vía Alto Nivel

If you were a worker who began to contribute to the IMSS , but due to various work circumstances you recently left your job, you can continue generating your contributions to achieve a pension of up to 50,000 pesos per month when you retire.

According to the IMSS, if you have been terminated by your employer, you can enroll in the "Voluntary Continuation in the Mandatory Regime" or "Mode 40". In fact, the procedure can be done online.

IMSS mode 40

According to the IMSS Law , Mode 40 is an alternative that allows workers who contribute under the 73 regime. This means that people who began to contribute before July 1, 1997 can join Mode 40 and carry out voluntary contributions to increase their contribution weeks and salary as well and improve the amount of their pension at the time of retirement.

This modality gives workers the option to continue making their contributions and register with the IMSS with a salary of up to 25 UMAS and thus achieve a pension of up to 50,000 pesos in retirement.

To give an example, a person who turned 60, who was discharged by his employer and has 750 weeks of current contributions can pay for the last 5 years before his retirement, which is an investment of about 400,000 pesos, under this scheme, so I would have a pension of 14,400 pesos per month.

What are the requirements to apply for Mode 40?

  • There must be no current employment relationship. Which means that it must be discharged from the mandatory regime. In the event that you return to work, you will automatically be discharged from Mode 40.
  • Have been listed for at least 52 weeks in the last five years. Consider that if more than five years have passed after you signed off, you will not be able to apply for this modality. If you stopped quoting before, you will not be able to request this modality.

The pension depends on the number of weeks contributed and the salary with which a person contributes in the last five years of their working life. A person can register with the IMSS in Modality 40, even if they no longer have a current employment relationship with a salary of up to 25 UMAS, equivalent to 68,111 pesos.

Where to carry out the procedure?

The Modality 40 procedure is requested through the IMSS and you can do it for free in person or remotely.

  • In person: at the window of your Sub-delegation during the hours and business days of the IMSS.
  • Online : every day of the year, 24 hours a day.

Requirements to enroll:

You have to register your basic data to complete the online procedure on the IMSS portal. You must have these documents:

  1. Unique Population Registry Code (CURP)
  2. Social Security Number (SSN)
  3. Email

In case you want to do the procedure in person, you have to bring:

  1. Free writing requesting enrollment in voluntary continuation in the mandatory regime, with autograph signature or fingerprint. Original and copy.
  2. Document containing the Social Security Number. Original.
  3. Valid official identification. Original and copy.
  4. Proof of address. Original and copy.
  5. Receipt of payment of the corresponding employer worker fee *. Original and copy.