Hello everyone!

My name is Jessica, I'm a Mexican lawyer and I'm here to share with you important information regarding your retirement funds as a foreigner that has worked in Mexico.

According to the Mexican legal framework, every person who is an employee has an AFORE account with the retirement funds despite the nationality of the individual. Once the employee has the required amount of years of work or turns 65 years old, can either gain an allowance or withdraw the funds from their AFORE account.

What happens when, as a foreigner, you don't plan to retire here in Mexico and after working for some time you want to leave the country and recover the funds in your AFORE account (since it is your money)?

The legal framework does not consider this particular case. Therefore does not allow any person to retire their funds outside the two circumstances mentioned above.

Nevertheless, there is a judicial criterion in Mexico City where Tribunals consider that the particular situation of foreigners could entail discrimination against them. From November 2020, every foreigner that has the desire to return to his/her home country and does not plan to stay and retire here in Mexico can withdraw their retirement funds. In order to obtain the authorization to do so, it is necessary to file a lawsuit.

Feel free to write me with any questions you may have.

Stay safe!

 

Hi JVM. The court ruling does not change the law. It is only a judicial criterion which means that it needs to be applied in every case that the Mexican Tribunals know of. Until the law is not reformed, a lawsuit is needed.

Hope this helps and if you need more information, do not hesitate to contact me.

 

Hi Cyrilexpat,

Unfortunately, the Mexican legal system works this way: a judicial criterion is only mandatory for Tribunals and not for the AFOREs. Therefore, you need to ask the Tribunal through a lawsuit, to authorize the withdrawal of your funds. Until there is a law reform that covers this right for foreigners, the way is to file a lawsuit.

I agree with you that it implies money and time for both parties. The silver lining is that now in Mexico City the judicial criterion is mandatory, and therefore the result is guaranteed (if you meet the conditions).

Hope this helps, and do not hesitate to contact me for further information.

 

Hi Ray. My phone number is +52 5513479403. He can contact me there or send me an email to jessie@conventus.mx.

 

Hi Tony, it may apply to you and your wife if we can proof that it is not your interest to retire in Mexico. You usually proof this if you don't own a house, a business or anything that can attach you to Mexico (sometimes neither relatives). The outcome though it's not guaranteed. Therefore, we recommend that if you prefer to not take risks, you can legally give up your Mexican nationality and then file a lawsuit as a foreigner (legally speaking).

If you want to talk a conversation to discuss further, send me an email to jessica@conventus.mx or a WhatsApp message to +52 5513479403.