Aportaciones Voluntarias: Who Qualifies and What You Get
Learn how to boost your retirement savings through voluntary contributions and the tax benefits available to you.
Aportaciones Voluntarias is a way for you to put extra money into your retirement account to increase your long-term savings. This process, sometimes referred to as Ahorro voluntario, allows you to build a larger financial cushion for your future beyond the standard mandatory contributions.
Who it's for
This scheme is available to any worker who already has an AFORE account. If you are currently employed or have previously worked and have an active retirement account, you qualify to participate in this program.
What you get
By making these extra contributions, you can boost your total retirement capital. This helps ensure that your savings grow more significantly over time. A key benefit of this scheme is that these savings are tax-deductible, which means the money you put aside can help reduce your tax burden, depending on your specific tax situation.
What it costs you
Starting this process is designed to be accessible. You can begin making contributions with a minimum amount of $50 MXN. These payments can be managed conveniently through a banking app or by visiting a bank in person to make a deposit.
The catch to know
It is important to understand that the rules regarding how and when you can withdraw your money vary depending on the specific type of voluntary contribution you choose to make. Because different contribution types carry different rules, you should be careful about how you access your funds if you need them before retirement.
How to apply
- Confirm that you have an active AFORE account.
- Determine how much extra you wish to contribute to your retirement savings.
- Use your banking app or visit a bank branch to make your deposit.
- Ensure you keep all transaction records and receipts to support your tax deductions.