Carlos Slim Proposes Eliminating IMSS and ISSSTE Pensions, Extending Retirement Age to 75

Monterrey, Nuevo León — Mexican billionaire Carlos Slim has proposed eliminating pensions from the IMSS and ISSSTE and raising the retirement age to 75, arguing that the current system is unsustainable and fails to address poverty.

Speaking at an international forum in Monterrey, the honorary chairman of Grupo Carso questioned the viability of the existing pension model and suggested redirecting public spending toward productive programs.

“To achieve peace, freedom, and the eradication of poverty, it is essential to establish a minimum threshold of well-being,” Slim said. “It is surprising that, despite the considerable income allocated to retirees in Mexico, there are still six million people living in extreme poverty. We must redirect military spending and other outlays toward guaranteeing minimum levels of well-being for the population.”

Slim proposed transforming Mexico’s retirement system by prioritizing continued participation in the labor market over direct subsidy schemes.

“There has been a deterioration in countries, as well as in the social peace of our communities, an issue that urgently needs to be addressed,” he said. “It is vital to promote harmonious families based on principles and values, because these are the ones that can inspire a peaceful society.”

Under his vision, older adults could remain active for more years, which would help strengthen the economy and reduce pressure on public finances.

Slim criticized the current system of direct transfers, arguing that it does not solve structural problems such as extreme poverty. He pointed to a contradiction between pension spending and unmet social needs, and suggested replacing these supports with a model based on “minimum levels of well-being” focused on services, infrastructure, and job opportunities.

The businessman also linked the lack of economic activity to security problems, saying that the absence of employment contributes to the deterioration of the social fabric. From his perspective, promoting work and productivity would help create conditions for greater social stability.

“There are a series of factors that are causing insecurity in families,” Slim said. “When there is insecurity, there is no freedom; you cannot leave your home because you are not safe. What we need is a society at peace, and we have to work for it.”