Pension beneficiaries from the Mexican Social Security Institute (IMSS) will receive an increase in their monthly deposit starting next year, and details on how much the increase will be are expected to be released in the coming weeks.
As every year, the increase in IMSS pensions is calculated based on the National Consumer Price Index (INPC) of the National Institute of Statistics and Geography (Inegi) and its specific difference.
This indicator is responsible for the increase in IMSS pensions, because it measures the inflation of the previous year, as well as the increase in the prices of the basic basket, as well as consumer goods and services in houses .
Due to the increase in the IMSS pension, which is expected to be announced in the coming weeks, some experts have predictions for an increase in 2024.
How much will the IMSS pension increase?
The executive director of the Center for Economic and Budgetary Research (CIEP), Alejandra Macías, said that the IMSS pension increase will depend on how inflation ends this year. In addition, the increase in labor law applies to all procedures.
In an interview with Expansión, Macías said that it is possible that IMSS allocates around 75 billion pesos for pensions, in addition to the fact that according to information from the Federation Expenditure Budget Project for 2024, it is expected that the expenditure of Pensions from the IMSS, the Institute of Security and Social Services of State Workers (ISSSTE) and Petróleos Mexicanos (Pemex) had an increase of 7.3 percent.
Macías said that Bank of Mexico projections show that the inflation rate is expected to close at 4.66 percent this year, which will reflect an increase in IMSS pensions.
In previous years, the decree to increase the IMSS pension was published in the Official Gazette of the Federation from the first two weeks of every January.