“Golden pensions” are being cut

President Claudia Sheinbaum emphasized that the so-called “golden pensions”—which in some cases amounted to as much as US$57,520 per month—have been reduced to an average of US$4,000 per month, which, “compared to the modest pensions of the vast majority of Mexicans, is very good.”

The reform that eliminated these excessive subsidies took effect immediately, as soon as the information was published in the Official Gazette of the Federation.

The president criticized those who received these million-dollar benefits and noted that, in her case, if she decides to retire at the end of her six-year term, she will receive around US$1,700 per month.

“Anyone who was receiving a pension greater than half the president’s salary must adjust to that new amount: half the president’s salary, which is roughly US$4,000.”

Finally, she noted that the average salary of workers registered with the Mexican Social Security Institute (IMSS) is nearly US$1,000 per month, so despite the adjustments under the new regulation, pensions will be adequate.