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Do you want to retire with 50,000 pesos a month? Starting in 2023, the fee for IMSS Modality 40 will rise

Those people who began contributing before July 1, 1997 have the possibility of reaching a pension of up to 50,000 pesos thanks to IMSS modality 40 . To do this, the worker pays a fee for a certain time based on the quoted salary that will eventually allow him to have his pension insured.

By 2023, this quota will suffer an increase. Below we give you the details.

What is IMSS modality 40?

This modality allows the worker to continue giving the contributions and register with the IMSS with a salary of up to 25 UMAS and thus reach retirement with a guaranteed pension of up to 50,000 pesos.

For example, a 60-year-old person who has already been discharged by his employer, with 750 weeks of contributions in force, can pay, for the last 5 years before his retirement, an investment of about 400,000 pesos, under said modality. With this, he would obtain a monthly pension of approximately 14,400 pesos.

The pension depends on the number of weeks contributed and the salary with which a person contributes in the last 5 years of their working life.

How much will the fee increase in 2023?

Currently, the payment of modality 40 is 10,057% of the contribution salary, however, the increases will be gradual from 2023 to 2030.

The Social Security Law states that for the next year the increase is 1.09%, that is, 11.166% of the contribution salary. By 2030, the increase will reach 18.8%.

It is important to mention that in order to be able to retire under the 40 modality, the worker must have contributed at least 52 weeks of work in the last five years.

How to incorporate IMSS as an independent worker?

You do not need to be a salaried worker to have IMSS. We explain how you can join the institute as an independent worker and what the benefits are.

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