Thinking about the future is a good way to prevent, for example, it is good to calculate how much you will receive in pension to plan how your life will be. If you contribute to the Institute of Social Security and Services for State Workers (ISSSTE) or the Mexican Institute of Social Security (IMSS) and you want to know the amount they will give you when you retire, we will tell you a way to calculate it.
The National Commission of the Retirement Savings System (Consar) offers a tool, which can be used by workers, to calculate how much they will receive in retirement when they retire.
We tell you how to calculate how much you will receive in pension. Photo: Reforma
If you selected the individual account regime or started to contribute as of April 1, 2007, you can calculate how much you will receive in pension, and if you consider it necessary, start making voluntary contributions to increase the amount you will receive.
What steps should you follow
The first thing you have to do is enter the ISSSTE page and look for the Calculator section. You must have the following information on hand:
Basic monthly salary. Current balance of your Afore. Gender male or female. Birthdate. Age. Year of affiliation. Years listed. Nominal value of the ISSSTE Pension bond. Percentage of solidarity savings. Actual performance before commissions. Retirement age Click on calculate to get the approximate amount you will receive as a pension.
Similarly, Consar has a calculator so that those people who contribute to the Mexican Social Security Institute (IMSS) and those who work independently and are affiliated, can calculate the amount of pension they will receive.
If you want to calculate how much your pension will be in the IMSS, you must follow the following steps and enter these data:
Enter the IMSS calculator. Salary Base of monthly contribution. Current balance in your Afore. Gender. Birthdate. Age. Year of affiliation. Years listed. Actual performance before commissions. Retirement age.
You must take into account that in all cases this exercise will give you an estimate of what you will receive as a pension, if you consider that the amount is very low, you can make voluntary contributions so that your savings grow and therefore your pension as well.
More information on the subject in our Retirement section.