With the new year approaching, retired individuals are awaiting important updates concerning their pension payments from the Instituto Mexicano del Seguro Social (IMSS) and the Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado (ISSSTE). For 2025, specific dates have been set for pension disbursements, alongside the requirement for some retirees to file their annual tax declarations.
The ISSSTE will issue its pension payments for February 2025 on January 31, 2025, allowing beneficiaries to access funds before the month begins. This early payment facilitates family financial planning, as emphasized by the agency’s procedures to assist pensioners.
Conversely, IMSS will provide its pension payment on February 4, 2025. This slight delay compared to ISSSTE's is due to the weekend and the public holiday marking the anniversary of the Mexican Constitution. Pensioners are advised to monitor their bank accounts closely during this period.
While pensions are regularly deposited, some pensioners may need to prepare for obligations to the Servicio de Administración Tributaria (SAT). Only those receiving over 43,299 pesos monthly must file the annual tax declaration, especially if their pensions classify them as active workers by making them liable for income taxes. Failure to submit the required documents could lead to penalties ranging from 1,810 to 36,740 pesos, underlining the importance of compliance.
The SAT has clarified, "jubilados y pensionados con pensión del IMSS o ISSSTE cuyo monto sea superior a los 43 mil 299 pesos mensuales deben presentar su Declaración Anual," emphasizing the necessity for financial prudence among higher-income retirees.
Besides the tax obligations, pensions for some retirees will be adjusted based on the regulations governing their retirement. For those who retired before 1993, the increase is tied to the basic salaries of active workers. For pensioners from 1993 to 2000, increases are based on the Unidad de Medida y Actualización (UMA), which is currently set at 113 pesos daily, totaling roughly 3,440 pesos monthly. More recent retirees, from 2002 onward, will see adjustments aligned with the Índice Nacional de Precios al Consumidor (INPC), currently at 4.21%.
ISSSTE stated, "los incrementos están ligados a los sueldos básicos de los trabajadores activos en 2025," providing clarity on how adjustments are calculated for specific groups. This ensures retirees know what to expect based on their respective retirement times.
Pensioners have several options for verifying their deposit statuses. They can call dedicated lines: 55-5062-0555, 800-400-1000, and 800-400-2000, ensuring they have easy access to their information.
With these updates, retirees must stay informed and take necessary actions to remain compliant with tax regulations. The clarity offered by IMSS and ISSSTE about payment schedules and necessary filing requirements aids pensioners as they navigate their financial responsibilities heading deep within 2025.
Staying updated on these developments is not just beneficial but is also instrumental for financial management as these pensioners enter the new year. The continued support from both institutions reflects their commitment to serving the needs of their beneficiaries.