Increase in employer contributionsupdate on quotes weeks necessary to retire and changes in the commissions that the Afores will charge are some of the modifications that will come into force from 2025, in order to improve the pensions of Mexican workers who contribute under the Law of the Mexican Social Security Institute ( IMSS).
Next, we explain the main modifications that will be given the following year in terms of pensions and Afores.
Mandatory contributions
Starting with the reform of the Social Security Law and the SAR Law (Retirement Savings System) in 2022, each year the Mandatory contributions for unemployment and old age.
It should be noted that the modification of the percentages of the employer’s contribution in the branches of unemployment in advanced age and old age are considered based on the base contribution salary (SBC) that the worker has.
Therefore, by 2025 the third increase will be carried out, which will be up to 6.42%, so that in 2030 it reaches 11.87% and in this way tripartite contributions reach 15 percent.
It is important to inform that the contributions by the worker for Unemployment and Old Age remain at 1.125% of the Base Contribution Salary (SBC).
Commissions
In accordance with the Retirement Savings Systems Law, the Governing Board of the Consar, with representation from the labor, employer and government sectors, they reported what the commissions who will charge the afores for the year 2025.
It is indicated that nine administrators will charge a commission of 0.55% on the managed balances, while PENSIONISSSTE will have a commission of 0.52 percent.
“The level of commissions authorized for 2025 in all administrators is lower than in 2024, benefiting the worker, as it translates into additional savings and a larger pension balance.”
In such a way that the average commissions of the System goes from 0.566% to 0.547 percent.
Weeks
Finally, in accordance with the Social Security Law, starting in 2023 the requirement for weeks of contributions will increase each year by 25 weeks until reaching 1,000 weeks in 2031.
Therefore, by 2025, people who want to retire under the IMSS law must have a minimum of 850 weeks of contributions
It is important to highlight that regarding the retirement age there is no changethat is, it is necessary to be 60 to 64 years old in case of requesting an Unemployment pension and 65 years old in case of an old-age pension.
