Home South AmericaColombia Download and consult the text of the pension reform here

Download and consult the text of the pension reform here

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Download and consult the text of the pension reform here

In a 150-page document, the government of President Gustavo Petro laid out the bases of the pension reform project that, as happened a few weeks ago with the health and labor reform initiatives, they will be discussed by the Congress of the Republic.

(See: Reactions to the filing of the pension reform).

The initiative is centered on a system of pillars (solidary, semi-contributory and contributory) and seeks to guarantee a basic retirement income for 2.5 million adults over 65 without the possibility of a pension and implements a system of pillars in Colombia to expand coverage.

(See: This is how the pension system that is in force in Colombia works).

The project intends that 20% of the total contributions to the contribution system that Colpensiones will receive go to a savings fund That percentage will increase progressively every 10 years.

These resources will only be used when the nation’s spending in the semi-contributory and contributory pillars exceeds 1% of the GDP (Gross Domestic Product) of the respective year.

(See: 94% of Colombians defend free choice to contribute to a pension).

In addition, The project is committed to being a pioneer in closing gender gaps, since it proposes a reduction of almost one year for each child and with a cap of 150 weeks, to compensate care work and guarantee that women retire with a fair pension.

(See: Pension reform would give rise to a new savings fund).


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