Mexico - Apply for Voluntary Savings Withdrawal by the Beneficiaries

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Procedure

Apply In-Person:

1. To Apply for Voluntary Savings Withdrawal by the Beneficiaries, the applicant has to approach the PENSIONISSSTE 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 acknowledgment 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. PENSIONISSSTE will review the application and documentation to verify their eligibility as a beneficiary and the legitimacy of the withdrawal request. This process may take some time, so be prepared for possible delays.
12. Once the application is approved, PENSIONISSSTE will notify the regarding the disbursement of the funds.
13. The funds will typically be directly deposited into your bank account.
14. This entire registration process can take up to 30 days or as per the timeline advised by the respective department authority.

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Required Documents

• Application form
• Proof of address (e.g., utility bill, bank statement).
• A copy of the deceased individual's official identification (e.g., INE - Instituto Nacional Electoral, passport, or driver's license).
• A copy of the deceased individual's CURP (Clave Única de Registro de Población).
• A copy of the death certificate of the account holder.
• A copy of your official identification (as the beneficiary).

Office Locations & Contacts

PENSIONISSSTE
Blvd. Adolfo López Mateos, 2157, Colonia Los Alpes,
01010 Mexico City
Telephone: 55 5062-0500
Email: [email protected]
Contact- link

Eligibility

To be eligible for a Voluntary Savings Withdrawal as a beneficiary, you must meet the following requirements:

• Be a Mexican citizen.
• Be the spouse, child, parent, or sibling of the deceased worker.
• Be able to prove your relationship to the deceased worker.
• Have not received any other pension or retirement benefit from the deceased worker.

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 processcan take up to 30 daysor 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.gIn 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 Beneficiary Status
• Deceased Account Holder's details
• Bank Account details

Need for the Document

• The Voluntary Savings Withdrawal (VSR) is a benefit that allows beneficiaries of the PENSIONISSSTE (Institute of Security and Social Services for State Workers) in Mexico.

Information which might help

The benefits of applying for a Voluntary Savings Withdrawal by the Beneficiaries in Mexico are:

• They can withdraw your savings at any time, even before you reach retirement age.
• They can choose to receive your savings in a lump sum or in monthly payments.
• The amount of your withdrawal will be determined by the amount of your savings and the interest that has accrued.

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 about Voluntary Savings Withdrawals:

• They will lose the opportunity to earn interest on your savings if you withdraw them before you reach retirement age.
• If withdraw the savings before you reach retirement age, you may have to pay taxes on the amount that you withdraw.