In a new report on the monitoring that it has been carrying out for several weeks on Colpensiones and the preparations of the Government in view of the pension reform, the Attorney General’s Office revealed new alerts that are being issued by different entities in the face of technological advances and the lag that is faced by this task within the public pension administrator.
According to the Public Ministry, the readiness and current state of technological capabilities continues to be an issue that presents risks in the face of the entry into force of the reform, since the goals of portfolio management and citizen service are not being met.
Pensions
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This was stated after the response to the requests made by the Attorney General’s Office to the Financial Superintendency where it was reported that Colpensiones has been monitored for 14 years, mainly on issues related to its operation, issuing the respective reports and alerts so that any deficiencies can be improved.
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“The Superfinanciera showed that Colpensiones only reached 65% In compliance with the strategy related to portfolio management processes, debt determination and coercive collection; it also confirmed that the pending activities are those associated with the technological adjustments of the Strategic Plan for Information Technologies – PETI, approved on May 10, 2024,” the document says first.
Turning to the purely technological aspect, the Superintendency of Finance told the Attorney General’s Office that over the last few years it has been said several times that there are various services to the public that are not being covered digitally, which is why it created special bodies to closely monitor the solution to these needs.
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“It created a bilateral supervisory college with the participation of the senior management of Colpensiones and the board of directors of the administrator, in which the main aspects to be monitored were pointed out in relation to technological obsolescence – Bizagi and servers, the incorporation of other functionalities to meet needs not covered by other applications,” they explained.
This body also addressed “the need for additional strategies to ensure the continuity of the activities carried out, noting the low rate of remediation of high-risk vulnerabilities and the decrease in the cybersecurity posture rating.”
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Finally, according to what was said by the Attorney General’s Office, the Superintendency of Finance is carrying out an inspection exercise to assess the management of the recognition and payment of overdue economic benefits, and the verification of legal proceedings in the financial statements, so that they are not affected by the transition.
Superfinanciera
Courtesy of Superfinanciera
“They will carry out supervision processes for Colpensiones, the AFPs and the PILA information operators, aimed at obtaining a diagnosis of the activities and an assurance schedule for technological, administrative, infrastructure and operational adjustments to comply with the regulations, aimed at protecting the rights of the system’s members and pensioners,” they added.
The report concluded by making it clear that the implementation of the pension reform is a process that is just beginning and that it will seek to establish operational and technological working groups with the supervised entities on issues such as the opportunity for transfer and advice, affiliation, collection, payment dispersion, accreditation of contributions, portfolio, work history, pension recognition, savings fund management, pension insurance and occupational medicine, among others.
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In closing, they said that the supervisory body will be monitoring the regulations in order to be able to monitor the technological, administrative, operational and infrastructure adjustments required for the implementation of the new model of protection for the elderly to avoid future traumas.
