The end of the year is approaching and with it comes good economic news for retirees of the Mexican Social Security Institute (IMSS) and the Institute of Security and Social Services for State Workers (ISSSTE). Both will receive their year-end bonus before the end of 2024.
In the case of IMSS retirees, not all are entitled to the bonus. Mainly those under the 1973 scheme, that is, those who contributed to IMSS before July 1997. The year-end bonus is equivalent to one monthly pension payment and will be deposited on the first of November into the retiree's bank account. Those who receive their pension through an AFORE or insurer will follow the payment conditions of those institutions.
On the other hand, ISSSTE retirees will receive their year-end bonus in two parts: one in mid-November and the other in early January. The November payment will be made on October 31 and the December payment on November 29. To retire due to old-age unemployment, 25 years of contributions to ISSSTE are required, which is approximately one thousand 250 weeks. The age to apply for retirement ranges between 60 and 65 years, depending on the type of pension.
In summary, both IMSS and ISSSTE retirees are about to receive their year-end bonus before the year ends, which represents an important additional income to cover year-end expenses.
