IMSS, these are the changes made to the pension system – Latest News, Breaking News, Top News Headlines

The Senate recently approved a Reform to the Pension System, among them that now there will be better control of the Retirement Fund Administrators. This initiative was presented by President Andrés Manuel López Obrador sent to Congress at the end of September.

If you still do not know what the pension system is before and how it is now, we will tell you the differences and some benefits that workers who contribute to the IMSS will be able to enjoy from this change.

4 changes to the pension system. Photo: Pixabay 1. Fewer weeks listed

Which means that now it will take fewer weeks of contributions to access a pension, which will allow more people to have access to receive this money when it comes to retirement.


The number of weeks that a person will need to reach a pension in 2021 is a minimum of 750, which will gradually increase until reaching 1,000, which is expected to happen in 2031.


When the reform to the Social Security Law was made in 1997, it took 1.25 or weeks of contributions to retire.

2. The mandatory contribution is increased

There will be an increase in mandatory contributions from 6.5% to 15% of the base contribution salary.


From 1997 to the end of 2022, you saved 6.5% of your base salary contribution in the Afore account. In addition, the government grants a social quota for those workers who contribute below 15 UMAs.


Starting in 2023, this contribution will increase gradually according to the base salary of the workers, until it reaches 15% of the base salary in 2030. Similarly, the worker’s contribution remains at 1,125%.

In the event that your base salary is up to 4 UMAs, the employer’s fee will be complemented by the social fee. If your base salary is 4.01 UMAs onwards, this increase will fall on the bosses.

3. Less commissions from Afores

This means that the Afores, who manage the resources of Mexican workers, will charge less commissions for handling the money.


While it is true that Afores commissions had decreased since the Retirement Savings System (SAR) began, the percentages were still high. To give you an example of this, in 2008 they reduced 1.89% and in 2020 0.92%.


A significant reduction is contemplated in the commissions charged by the Afores for the administration and investment of savings for the retirement of workers, this until reaching international levels. By paying less commissions, you also benefit from saving for retirement.

4. Better amount of pensions

With the reform of the pension system, the amount that the beneficiaries receive will be guaranteed.


A minimum of 1,250 weeks of contributions were required to be entitled to a guaranteed pension of $, 289, which in 2020 if you had less than that amount, it was a negative pension.


The guaranteed pension will depend on the weeks contributed, the retirement age and the average salary of the worker. Therefore, from 2021 with 750 weeks of retirement, you will be entitled to receive a pension of $ 2,622, at 60 years of age, and with an average of a minimum wage.

This will increase, for example, to have a pension of $ 8,241 you must have 1,000 or more weeks of contributions to retire at age 65, with an average salary of 5 UMAs.

Here it is important to emphasize that the more weeks of contributions, age and average salary you have, the higher amounts of pensions you can secure.

Now that you know a little more about the reforms that the pension system had, you will be able to have access to a greater amount of pension depending on the conditions in which you are.

If you want to know more information about pensions visit our Retirement section.

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