Sunday, January 29, 2023

pension, which according to UMA and INPC will increase their amount in February 2023

At the beginning of the year you would surely have heard about the various increases, such as minimum wage, holiday days and UMA, commonly used to calculate fines, but just as with the 1973 law the IMSS retirees people saw an increase in January, In February others will do it in institute as well as ISSSTE,

and that while protected by them Social Security Act (LSS) of 1973. Their pension has been updated according to the LSS 1997 and the current minimum wage of the Institute of Security and Social Services of State Workers in Mexico City (ISSSTE) Increase by unit of measurement and update (One) and the National Consumer Price Index (INPC).

Yes, since UMA and INPC are based on the inflation registered in the previous year, the increase you will receive will be less than the value of minimum pay, which is By 2023 it was to increase by 20%,

Will the pension increase in February?


As we mentioned earlier, if you have filed with the Mexican Social Security Institute (IMSS) LSS 97 is applicable to you after 1st July, 1997 so your pension will be extended till February and as per rules National Consumer Price Index (INPC) Compared to the previous year, which measures the annual inflation rate, and which stood at 7.82% in December 2022, that is the percentage the UMA will increase for this year.

So far the institute has not given a verdict on this matter, while like every year this year also The increase will automatically come in your next payment, Corresponding to Feb. Will yes, as you can see, will be less than the minimum wage advance.


Now, if you are an ISSSTE pensioner, the same case applies to you as IMSS of 97, because Your assignment will also be updated based on INPC In the second month of 2023.

“The amount of pension for permanent partial or total disablement shall be updated annually in the month of February as per the National Consumer Price Index corresponding to the previous calendar year”ISSSTE points to Article 74 of the law.

In the meanwhile, the pension received by entitled relatives of the employee due to work hazards will also be reviewed, and will be increased proportionately, as deemed fit, based on the INPC.

However, those ISSSTE pension Issued between January 5, 1993 and December 31, 2001 They are updated based on the UMA, which, as you’ll recall, sets the amount of the obligations to be paid and is updated each January independently of the minimum wage, so the increase will come in February as well.

The advantage in these cases is that Those who get their update in February will retroactively receive the pay that was missing for the increase related to JanuarySo next month will come with an added bonus for your growth.

What about guaranteed minimum pension?

Now, if you are not in any of these schemes, but you are a pensioner under Guaranteed Minimum Pension because, despite meeting the requirements of age and contribution weeks, you did not have sufficient resources to receive regular pension, So you will also see an increase in your monthly allowance.

And is that this regime, which applies to both the IMSS and the ISSSTE, stipulates that their pensioners receive a monthly general minimum wage in Mexico City, while from Every February they will get increment as per INPCAs we remind you, in December it was 7.82%, although we still have to wait and see what it turns out to be.

Finally, as we said at the beginning, if you received an IMSS pension under the 1973 LSS, or if you started contributing between that year and 1997, you may have already received an IMSS pension based on the increase in minimum wages. There has been an increase of 20%.

This also applies to pensions for widows, orphans and ascendants of the insured for work risks, which are revised and updated proportionately, according to Article 75 of the said law.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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