Modality 40 of the IMSS, a good option to retire

Mode 40 allows the worker who registers in it to make voluntary contributions to increase his pension to very attractive levels, since the authorized amount can reach 25 minimum wages per month, so his income when he retires can be up to 50,000 pesos per month . Although there is currently a proposal that could modify this situation, so far it is possible to achieve it.

For mode 40, the Updated Measurement Unit (UMAS) is used, which is lower than the minimum wage. For example, if the minimum wage is 123 pesos, the UMA is $ 86.88 Mexican pesos. If you plan to choose this option, it is recommended that you sign up for Mode 40 up to 5 years before retiring and not before, because even if you had contributed earning a minimum wage all your working life, while in the last 5 years you have increased the average salary with the help of this modality.

The retirement conditions offered by mode 40 are among the best.

If you have not contributed to the Mexican Social Security Institute for more than 5 years, you will have to reactivate the mandatory regime for one year and once you have made said activation you can start the Modality 40 process.

How to know if you can enroll in Mode 40

The procedure can be done if:

If you started listing with the IMSS before July 1, 1997. You were left without an employment relationship. You are close to turning 60 (minimum retirement age). No more than 5 years have passed since your last working relationship.

According to the IMSS, a worker must consider that the reactivation salary in the compulsory regime can increase or decrease the average salary of the last 5 years.

A requirement that you must meet to register in mode 40 is that your payment is equal to or greater than your last registered salary, you could not register a lower payment. Also, if you signed up with a salary you can no longer change it, then you must do the calculations carefully so that you are sure to pay it uninterruptedly until you reach 65 years of age.

The cost of Mode 40 is based on 10.075% of the contribution base salary (SBC) with which you register. It must be taken into account that you must contract with the Base Contribution Salary with which you were contributing in the mandatory regime and contract by making the retroactive payment from the date you caused leave within the 5 years of grace granted by the IMSS to enter said modality.

If you pay this fee you can continue to contribute, but it is NOT possible for you to receive health services. For this, you would have to hire them separately with another fee.

If you have been discharged from the Mexican Social Security Institute but want to continue contributing to the Institute, you can register in Mode 40 or voluntary continuation in the mandatory regime, you need to enter the Internet link: http: //www.imss.gob .mx / procedures / imss02007.

There you will find the instructions for you to complete the procedure online, as well as the steps to follow to complete your procedure at the window. If you are going to resort to this modality, given the current health conditions, we recommend you do it electronically.

More information about this topic can be found in the Retirement section.