Planning is a very important element in practically all walks of life, and when it comes to pensions, it can be even more so. One case, for example, is the age to retire. mode 40 Did Mexican Social Security Institute (IMSS).
As we told you in the first debate, the voluntary continuation of the compulsory regime, Better known as IMSS Modality 40, it is a plan that allows you to add weeks’ worth of contributions, but with higher pay, and thus increase your pension.
We have also reiterated that it is through this pension scheme, those who really benefit are those who belong to 1973 Social Security Scheme. It is important that you know the difference between Law 73 and Law 97.
However, before planning to sign up for Modality 40, you must have seen that you have the ideal profile so that your investments actually turn into better pensions. This will depend, to a large extent, on the percentage of weeks you have listed and your ability to pay.
Best age to register in Modality 40:
About Best age to register in modality 40It must be in the last 250 weeks before you retire, whether you want to retire at age 60 or 65.
what we usually tell you is that, if you’re already within that period of the last 250 weeks – The period that is taken into account for averaging your pension – The best thing is the sooner the better,
And it comes down to something very basic, Modality 40’s cost will increase year by year, till 2030, This means that, if you can register now, do it, because year after year you will be more expensive, as we show you here:
Cost of Modality 40 in 2023 and by 2030:
- 2023 – 11.166% of registered salary
- 2024 – 12.256% of registered salary
- 2025 – 13.347% of registered salary
- 2026 – 14.438% of registered salary
- 2027 – 15.528% of registered salary
- 2028 – 16.619% of registered salary
- 2029 – 17.709% of registered salary
- 2030 – 18,800% of registered salary
In addition to the above costs, remember that one of the factors that determine the cost of Modality 40 They are UMAS, which are increasing every year.
For example, The price of UMA in 2023 is $103.74 pesos per dayWhich, if you cap it at 25 UMAS per day, equates to $2,593.50 pesos.
If you wish to make a capped contribution to Modality 40 in 2023, you will need to make one payment per month, corresponding to 11,166 percent of your registered salary for the year Fee of $8 thousand 803.55 pesos.
Prepare ahead of time to enter Modality 40:
ideally, Start planning at age 50 or even earlier According to Modality 40, start saving money and keep adding weeks of contributions so that when you reach the contributing years, you have a decent amount invested.
In any case, what we recommend is now and always consult an expert So that you are clear about several points, among them, how will be your pension without Modality 40 and how will it be if you register.
This is very preliminary, as there are cases in which the investment efforts made pay off in very small profits. There are also cases in which the 40 modality is not suitable, so you should know that.