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Secure your rights, do you know the difference between pension and retirement? – Sun Saint Louis

Pension and retirement are certainly not the same thing, but they certainly go hand in hand with the ISSSTE Act and the Social Security Act.

At the moment a person is retired or retired, the various government agencies provide a series of benefits in terms of discounts on the payment of services and different benefits, not to mention access to sports or leisure facilities.

But one of the things that is ignored is that there is some difference between them pensioner and retiree that we are going to explain step by step: since it is not necessary for the pension to reach retirement age, that according to the Social Security Act (LSS) the applicant only needs to have reached the age of 60 at that time. applications.

What is a pension?

This is an economic benefit intended to protect an employee in the event of an accident at work, when he suffers an illness or non-occupational accident or when he reaches at least 60 years of age.

  • In the event of the death of an employee or pensioner, it protects their beneficiaries. In both cases, compliance with the requirements specified in the Social Security Act.
  • The granting of a pension is done by submitting a resolution supporting the right to the payment of a monthly amount and to the medical services provided by the IMSS.

What is retirement?

Retirement is the termination of employment after reaching the legal age. This retirement age in Mexico is 60 calendar years.

  • In the case of IMSS, the employee must have 1,250 weeks of work, that is, he has worked for about 24 years.
  • In the case of ISSSTE, the employee must have 25 years of service.

Difference between pension and retirement?

The Autonomous University of Mexico indicates that pensions and retirements are in accordance with the two main laws on the matter: the Law of the Security Agency and the Social Services of Government Employees and the Law of Social Security.

Within these two regulations, an annuity is understood as a periodic, temporary or lifetime sum granted to certain beneficiaries who meet various requirements; On the other hand, superannuation is a separate term that refers only to the pension a person receives for their age or years of service.

It does not necessarily mean ending a period of work due to age, people who had an accident at work, fell ill or had an accident can also go on a pension.

What else has happened in San Luis Potosí? find out here

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