Retirement: how to obtain a pension of 25,000 to 60,000 pesos through voluntary savings

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Maintain constant savings through a Retirement Fund Manager (Afore) is a good step to obtain a pension in the future, therefore, here we will detail what are the main benefits of this process.

According to the National Commission of the Retirement Savings System (Consar) there are three types of voluntary savings to inflate your pension when you reach adulthood and are:

Short term

These contributions are invested with a short-term horizon. For example, if you need to use the money in a short period, this would be your best option because it will be available after two months.

Medium-term contributions

In this case, the savings must remain invested a minimum of five years. The longer the savings are invested, the more profitable they will be, and the more easily set goals can be achieved.

The voluntary savings will be used for a future pension.  (Photo: EFE)

The voluntary savings will be used for a future pension. (Photo: EFE)

Long term

In this type of savings, the investment must remain in your account until 65 years of age. If left until retirement (65 years), the interested party will obtain the equivalent pension savings.

It must be remembered that the Afore is in charge of saving resources until reaching retirement and retirement age.

According to experts, the ideal to have a good pension in the future is to deposit the savings in the Afore, taking as a reference at least 20 times the minimum wage, currently 123 pesos.

However, the pension It is calculated in UMA and not in Mexican pesos. The UMA is the economic reference that was created in 2016, to determine the payment of obligations such as fines, Infonavit credits and personal deductions.

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Therefore, the daily value of the Unit of Measure and Update is $ 86.88 Mexican pesos, the monthly value is $ 2,641.15 Mexican pesos and the annual value is $ 31,693.80 Mexican pesos.

In that sense, the example of a voluntary savings pension would be:

EXAMPLE: Taking into account a person currently 50 years old, and a monthly payment to his Afore of around 1,720. So, calculating in UMA (86 pesos), your 15-year pension will be at least 25,800 pesos approximately.

Instead, a person of the same age, but who started saving since 1997, will register a pension of up to 60,000 pesos approximately.

With the pension calculator you can obtain a more exact amount for retirement.  (Photo: Pixabay)

With the pension calculator you can obtain a more exact amount for retirement. (Photo: Pixabay)

Pension calculator: know the amount you will receive in your retirement if you quote in IMSS, ISSSTE or as an independent

Calculating the amount of the pension that a person will receive when it is time to retire can be very useful to plan a good future, therefore, to carry out this operation, a special tool can be accessed, which the National Commission of the Savings System for Retreat (Consar) has available.

In that sense, Consar It offers three different calculators, that is, for workers who contribute to the Instituto Mexicano del Seguro Social (IMSS); those that are located in the Institute of Security and Social Services of State Workers (ISSSTE) and of access to the independent.

All three follow some requirements and to access the possible amount, click on the following pension calculators:

The worker who contributes to the IMSS must enter the following calculator: http://www.consar.gob.mx/gobmx/Aplicativo/calculadora/imss/CalculadoraIMSS.aspx

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For ISSSTE employees it is: http://www.consar.gob.mx/gobmx/Aplicativo/calculadora/issste/CalculadoraISSSTE.aspx

While for the independent access to:http://www.consar.gob.mx/gobmx/Aplicativo/calculadora/independientes/

Consar reminded users that the estimated results were calculated based on the figures that were provided and are only shown for illustrative purposes, so they have no official value and do not have binding effects with the Commission.

MORE ABOUT THE SUBJECT

Pension calculator: know the amount you will receive in your retirement if you quote in IMSS, ISSSTE or as an independent

IMSS mode 40: how to retire with a pension of up to 50,000 pesos

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