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JLeslie's avatar

Mexican Jellies: Is there such a thing as "old age" Social Security in Mexico?

Asked by JLeslie (65416points) May 21st, 2016 from iPhone

To be clear I am not talking about medical coverage, I’m talking about receiving a check monthly from the government when you retire.

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9 Answers

jca's avatar

I just googled “Mexico elderly benefits” and I got a Wikipedia article about it. I tried to link it but it didn’t work.

JLeslie's avatar

@jca That was helpful. Thanks.

Jak's avatar

Didn’t you say your husband is Mexican? Couldn’t you just find out from him or one of his family members?

Espiritus_Corvus's avatar

Mexico Pension Plan (Wikipedia article).

Social Security Programs throughout the world: Latin America, 2011 – Mexico.
(It is interesting that this information comes from our own Social Security Administration website)

The Mexican Pension System: Does a Real Crisis Exist?. (Report by the Wharton School of Economics, Wharton University)

JLeslie's avatar

@Jak That’s the problem, I can’t rely on them to know. They wouldn’t be collecting Social Security here if I hadn’t brought up the subject. Which pissed me off, because their daughter, who lives near them, who is older than I am, who around the time my inlaws qualified (his dad was 72 not in his 60’s) my SIL was married to a man who was very close to his elderly mother and took care of her financial affairs. Since he took care of that stuff, he knew the ins and outs of SS like someone who is already collecting. They didn’t mention SS or say anything that maybe my FIL should start collecting. No, I have to be the busy body, and be accused of being the uncouth Gringa only interested in money. Don’t get me wrong, my inlaws were grateful for my help with getting the SS money, but I still too often wind up being misunderstood.

They lost a house in MX during their transition to living here (long story) and I feel about 80% sure if I had been more pushy and annoying and aggressive about helping them, they would have $200k in their pocket from selling the house. They really could have used that money. Their situation would be very different right now.

@Espiritus_Corvus Thanks! I’ll look at the links. It does seem odd it’s info from our government? I haven’t clicked on the links yet.

Jak's avatar

I see. Thank you. Interesting that they are so unaware. Is this typical of regular people there? Are they unaware of a lot of their government programs? Seems logical, not that I think aboput it. The US does not have a monopoly on Government corruption. I wonder if I’ll just bet that this is a deliberate thing; keep them ignorant and poor so they can’t demand what they desreve. They don’t know they are entitled and wouldn’t know how to go about it if they did happen to hear about something… I apologize for thinking anythong negative about this question, and am glad that I framed my question in a neutral way. I am far too quick sometimes to think poorly of people.
Although this is not the case in a current thread elsewhere, in case someone wanted to jump in about that. Please….don’t.

JLeslie's avatar

@Jak After reading a little, it looks like my inlaws are right. There basically isn’t a social security system for them, unless I’m missing something. I just couldn’t trust they knew what they were talking about. It’s too important right now.

Plus, if they had paid into the system, I’d rather see them get money from there, then eventually wind up on our system on the dole. Just in terms of being fair to them, “we” as tax payers, and my husband and I personally.

They aren’t very close to being out of money right now, but they aren’t set for retirement. My FIL is looking at going back to work. He’s 75 or 76. I wish he could retire and have fun. Or, work very little for spending money.

My inlaws are very smart about some things, and not so smart about others. I guess like all of us.

Espiritus_Corvus's avatar

The eligibility age for the Mexican state pension is 70. There may be an early retirement out like ours (62 or 63 depending on whether you were born before or after 1953 at 75% fixed) and there is usually an “on-the-books” minimum work requirement (It is a total of 10 non-consecutive financial quarters in the U.S). I haven’t read all of the Mexican requirements, but it will all be in literature I cited above.

JLeslie's avatar

^^I think it’s just for people who “need” it. It says in the Wikipedia they don’t contribute to an old age SS fund.

My FIL told me widows can get it. That’s how he understood it.

Also, he was a business owner, not an employee.

I’ll read it more thoroughly later.

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