Mexico - Apply for Partial Withdrawal of Resources in the Individual Account Due to Unemployment or Marriage

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Procedure

Apply In-Person:

1. To Apply for Partial Withdrawal of Resources in the Individual Account Due to Unemployment or Marriage, the applicant has to approach the CONSAR (Comisión Nacional del Sistema de Ahorro para el Retiro) link
2. An application form will be provided to the applicant by the concerned officer.
3. The applicant has to fill in all the necessary details in the application form. (Incomplete applications are not accepted)
4. Make sure that the applicant has attached all the necessary documents that are mentioned in the “Required Documents” section of this page.
5. The applicant has to attach the photocopies of the required documents along with the application form while submitting.
6. Submit all the documents with the completed form to the concerned officer.
7. The applicant has to pay the prescribed fee as requested by the authority.
8. After receiving the application, the concerned authority will check the submitted application and document set. If all are in place, the application will be accepted.
9. An acknowledgement receipt will be provided. Please save it for future reference.
10. Then the application will be processed further. All the updates on the application status will be sent via SMS to the applicant’s mobile number.
11. The AFORE will review the application and documentation. If everything is in order, they will process the partial withdrawal request.
12. Once the request is approved, the applicant will receive the partial withdrawal payment in the manner specified by the AFORE. This may be through a check or a direct deposit to the bank account.
13. This entire process can be completed in 10 to 15 days or as per the timeline advised by the respective department authority.

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Required Documents

• Application form
• ID proof (Birth Certificate, national Identity card, etc)
• Beneficiary document
• Power of Attorney
• Proof of Unemployment or Marriage
• Payment of proof
• Other Supporting Documents

Office Locations & Contacts

CONSAR (Comisión Nacional del Sistema de Ahorro para el Retiro)
Camino a Santa Teresa #1040 piso
2 Jardines en la Montaña 14210 Ciudad de México
Telephone: SARTEL 55 13 28 5000
Contact- link

Eligibility

To be eligible for a partial withdrawal due to unemployment, one must:

• Be unemployed for at least 46 days.
• Have been affiliated with an Afore (retirement savings account) for at least three years.
• Have made contributions to the IMSS (Mexican Social Security Institute) for a minimum of two years.

To be eligible for a partial withdrawal due to marriage, one must:

• Have been married after July 1, 1997.
• Have quoted at least 150 weeks.

Fees

• The applicant has to pay the prescribed fee as requested by the authority.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• This entire registration process can be completed 10 to 15 days or as per the timeline advised by the respective department authority.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicants must complete the application form before submitting it. Incomplete applications will not be accepted.
• Applicants must provide genuine information while applying for this procedure.

Required Information

• Name
• Address
• ZIP code
• Gender
• Mobile number
• Fax
• Proof of Unemployment or Marriage
• Bank Account Information
• AFORE Information
• Beneficiary Information
• Fee receipt
• Additional Information

Need for the Document

• The Partial Withdrawal of Resources in the Individual Account Due to Unemployment or Marriage in Mexico is a program that allows individuals to withdraw a portion of their retirement savings in case of unemployment or marriage. The amount of the withdrawal is limited to 11.5% of the total amount saved and can only be exercised once every five years.

Information which might help

Here are some of the benefits of withdrawing money from the individual account due to unemployment or marriage in Mexico:

• It can help to cover living expenses while one is unemployed or newly married.
• It can help to pay for unexpected expenses, such as medical bills or car repairs.
• It can help to start a small business or invest in education.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

link

Others

Here are some additional things to keep in mind when applying for a partial withdrawal of resources in the individual account due to unemployment or marriage in Mexico:

• The amount of the withdrawal will be subject to income tax.
• They will not be able to make contributions to individual accounts until have repaid the withdrawal amount.
• If they withdraw money from their individual account before they reach retirement age, they may not have enough money saved to meet their retirement needs.