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✎ EN Recovery of retirement funds of AFORE accounts

Discussion in 'Mexico' started by Jessica Rodriguez, Apr 3, 2021.

  1. Jessica Rodriguez

    Jessica Rodriguez New Member

    Joined:
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    Gender:
    Female
    City:
    Ciudad de Mexico
    Living In:
    Mexico
    Nationality:
    Mexican (MX)
    Languages:
    Español, English
    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!
     
    #1 Jessica Rodriguez, Apr 3, 2021
    Last edited by a moderator: Apr 5, 2021
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