When a person has reached the total number of contribution weeks (including the minimum age), they can retire and use the money they have saved during their working years.
One of the preparations for the years after work is to receive the Mexican Institute for Social Security (IMSS) pension, which conforms to the respective scheme, where the employer contributions form the savings fund for retirement and there is the monthly resource to cover of basic needs.
Here the guaranteed minimum pension for pensioners is offered, where the monthly income corresponds to the agreed level of the current general minimum wage according to the Social Insurance Law.
To whom is the guaranteed pension paid?
The guaranteed annuity is offered to applicants provided they meet the specified minimum number of weeks and do not have sufficient funds to complete a lifetime annuity or scheduled withdrawal.
The minimum pension is reserved for IMSS beneficiaries who meet the requirements; That means they have 800 weeks of contributions in 2023, in addition to an Afore account balance, a current employee record and the minimum retirement age: 60 to 65 years.
What is the guaranteed minimum payment of the IMSS 2023?
The guaranteed minimum pension must not be less than 6,300 pesos per month considering the current values of 2023, with an 11 percent increase, leaving an approximate amount of 7,000 pesos per month.
In other words, under the Social Security Law, no one who retires in 2023 can receive a pension of less than 230.26 pesos per day, a threshold that will be maintained regardless of whether they choose to retire at age 60 or 65 years decides. or if they have contributed at least 500 weeks under the 1973 scheme.