The National Housing Fund Institute for Workers (Infonavit) allows beneficiaries to withdraw their savings from the Housing Subaccount, but only by meeting specific requirements, mainly upon retirement. This fund is nourished by 5% contributions of the Daily Integrated Salary every two months by the employer. Workers can check their balance through official channels like Mi Cuenta Infonavit.
The National Housing Fund Institute for Workers (Infonavit) offers beneficiaries the option to withdraw their saved money from the Housing Subaccount, as long as they meet certain requirements. This process mainly applies to those contributing under the 73 or 97 regime of the Mexican Institute of Social Security (IMSS).
Direct withdrawal of the savings is only accessible upon retirement, with the pension certification issued by the IMSS and compliance with the requirements of the corresponding Social Security Law, whether from 1973 or 1997. Attempting to access these funds before retirement can lead to complications, especially if turning to intermediaries known as 'coyotes' who promise to expedite fraudulent procedures. Instead, beneficiaries can handle the process themselves through Mi Cuenta Infonavit, provided they meet the necessary criteria.
The Housing Subaccount is a mandatory personal savings account, funded by employer deposits equivalent to 5% of the Daily Integrated Salary (SDI), which includes the base salary and other benefits registered with the IMSS. These deposits are made every two months and generate returns while unused.
To check the balance, workers have modern options: log into the Mi Cuenta Infonavit portal with username and password to download the Movements Summary, which details the total amount and contribution history from the employer's first payment; use the Infonavit mobile app for the same purpose; or visit self-service kiosks to obtain and print the summary instantly.
This savings is not limited to home purchases; it also serves as collateral for loans like Mejoravit or ConstruYo, to pay off mortgage debts with other financial institutions, to add to an Infonavit loan and increase purchasing power, or to enhance the pension amount upon retirement.
