The money accumulated in the Afore of a person does not disappear after his death; It is inheritable and can be claimed by its beneficiaries, as the case may be. However, you must take into account the steps to achieve it.
According to the Social Security Law There are three types of beneficiaries of a Afore:
- Legal
- Substitutes
- Designees
Legal beneficiaries
These are those who have automatic right to accumulated resources through mandatory contributions, in accordance with the National Commission of the Retirement Savings System (Consar). The delivery of the accumulated resources will depend on the type of pension under which it is counted.
Los Legal beneficiaries may be through cohabitation, for children as long as they are under 25 years of age and parents as long as there is no spouse or children. Likewise, it depends on the type of pension to highlight what type of beneficiary can apply, especially in the case of children.
Lee: They rescue a kitten trapped in the canal of the Dr. Valentín Gómez Farías neighborhood
Designated beneficiaries
On the other hand, those designated are freely chosen by the worker and their right is strictly limited to voluntary savings. These are the available formats:
- Freedom of choice
- Sole right
- Invalid will
- Flexibility
- Number of appointees
Substitute Beneficiaries
This beneficiary format appears when there are no direct legal beneficiaries such as those mentioned above. Non-direct relatives must go to a judge to be appointed to the Afore by right of succession.
You may be interested in: Peso finds advantage against the dollar amid Fed uncertainty
How long does a person have to collect the Afore of a deceased person?
It takes a month and a half to two months for the deceased to have their biometric file in order. Otherwise it can extend up to eight months or more. There are some longer procedures.
It should be noted that the money in the individual account is not lost, although If a year passes without a contribution and no one has claimed the money, it is sent to the Welfare Pension Fund which is intended to finance a pension supplement for the holder and not for beneficiaries.
* * * Stay up to date with the news, join our Whatsapp channel * * *
OB