Friday, September 29, 2023

How and how much money can I withdraw from my Afore?

If you have contributed to the Mexican Social Security Institution (IMSS) as an employee, you have the option to withdraw part of the money from your pension fund administrator (before).

According to the law, the National Pension Commission determines that the so-called partial withdrawals from the IMSS are a benefit for people in two circumstances: unemployment and marriage.

What are partial IMSS withdrawals?

This involves the disposal of a portion of the resources located in your individual Afore account. The goal is to “reach out” if you have lost your job or are about to get married.

Unemployment benefit can be drawn every five years and while it can support you in times of financial stress, you should keep in mind that contributions will be deducted for weeks.

The marriage pension can only be claimed once and the requirements change in this case, as gainful employment is required in this case. This has the advantage that week-long contributions are not discounted; However, to receive this benefit, you must have contributed to IMSS for at least 150 weeks.

How many types of IMSS partial withdrawals can I make with my Afore?

Depending on the case, these are the requirements and steps to be followed for a partial withdrawal from the IMSS:

Partial retirement due to unemployment

Depending on your employment situation after losing your job, there are two types of this withdrawal:

  • Modality 1: A one-time notification corresponding to 30 days of your last basic contribution salary. This means that if you declared about 10,000 pesos per month, that is exactly what you would receive. This only applies if your Afore account is less than three years old and you have been contributing to IMSS for less than two years.
  • Modality 2: A support of less than 90 days of your basic contribution salary for the last 250 weeks or 11.5 percent of what you have accumulated in your Retirement, Retirement Unemployment and Old Age (RCV) subaccount. This only applies to those who have opened their Afore for more than 5 years.

Requirements for applying for a partial benefit due to unemployment in the IMSS

  • Unemployed for 46 calendar days.
  • Have opened your retirement savings account for at least 3 years and contributed to IMSS for 2 years.
  • Haven’t retired in the last 5 years.
  • Have your updated identification file ready.
  • You must have these documents on hand:
    • Official identification.
    • Account statement in your name with the standardized bank code (CLABE).
    • Unique Service Key (CUS).

How can I partially withdraw from IMSS due to unemployment?

  • The first step is to generate an appointment on the Afore web portal. If you don’t have a username and password, you can generate them using your CURP, email address and mobile phone.
  • Click on the “My Procedures” option and then select the “Partial Withdrawal” option.
  • Select the “Leaving Unemployment” option. The page will immediately ask you to provide a time when you can be contacted.
  • Later you will have to provide the details to make the appointment (branch, date and time).
  • Once the appointment is confirmed, you will receive an email with the necessary information.
  • When you go to your appointment, you will have to sign the application for disposition of the funds that the supervisor to which you belong will make available to you, as well as a form explaining the consequences of withdrawing money from your preliminary contract, such as: quoted weeks.
  • Once the IMSS confirms the partial withdrawal, you can receive the resources, which will be delivered via deposit or check within a period of up to five days.

Partial retirement due to marriage

In the case of partial withdrawal due to marriage, there is only one modality and an amount equal to 30 Current Measurement and Update Units (UMAs) is delivered, which in this case is approximately 3,153 pesos this year.

Requirements for requesting a partial withdrawal of your afore due to marriage

  • At least 150 weeks of contributions to IMSS.
  • I didn’t have this support before.
  • Be an active insured employee.
  • Updated worker identification file.
  • Have these documents ready:
    • Official identification.
    • Marriage certificate.
    • Bank statement in your name and at CLABE.
    • Pre-request created in the E-SAR portal for the provision of resources for partial exit due to marriage.

How does a partial withdrawal from the IMSS due to marriage occur?

  • Submit your advance payment request on the portal, as you will receive a unique service code there. If it is easier for you, you can contact one of the Afore branches who will help you with the pre-application.
  • During your pre-application, you will need to select an Afore branch to carry out the process and make an appointment. On the specified day and time, go to the location and sign the application for the resources that your Afore will provide you with.
  • Once you have completed the application, Afore will manage the process through the IMSS and once the payment is made, you will receive the money within a maximum of five days.
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