Housing Sub-account: Who Qualifies and What You Get
Learn how your employer's contributions build savings in your Housing Sub-account for your future.
The Housing Sub-account is a specialized savings mechanism designed to help formal employees build equity through mandatory contributions made by their employers.
Who it's for
This scheme is specifically designed for individuals working in formal employment. To qualify, you must be part of the formal labor market, meaning you have a legal employment relationship that requires your employer to make specific social security and housing contributions on your behalf.
What you get
The primary benefit of this scheme is the accumulation of savings over time. Your employer is required to make regular contributions that are deposited into this dedicated sub-account. These funds, often referred to locally as Ahorro Infonavit, grow as more contributions are added through your work history, building a financial reserve tied to your employment.
What it costs you
There is no upfront application fee or manual payment required to participate in this scheme. Instead, the cost is handled through an automatic payroll contribution. This means the funds are managed through your regular compensation structure as part of your standard employment obligations, ensuring that your savings grow as you continue to work.
The catch to know
It is important to understand that this is not a liquid savings account that you can tap into for daily expenses or emergencies. The most significant restriction is that you generally cannot withdraw this accumulated cash for personal use during your working years; you typically cannot access these funds until you reach retirement.
How to apply
- Ensure you are working in a formal employment role where your employer is legally required to make contributions.
- Verify that your employer is correctly processing the mandatory payroll contributions.
- Monitor your accumulated savings through the appropriate official channels to track your progress.