Since January, new pension benefits for women and older adults come into effect

The president of Colpensions, Jaime Dussánstated that, as of January 1 of next yearthe progressive reduction in the number of weeks of contributions required for women to access pensions in Colombia.

This is a measure established by the Constitutional Court that seeks to close historical inequality gaps in the pension system.

He explained that the benefit will be applied gradualwith a decrease of 50 weeks per yearuntil reaching a minimum of 1,000 weeks required for women.

“It is a recognition of the inequalities that women have historically faced in access to rights. For many years they did not have the same job opportunities or social protection,” she stated. Dussan.

The president of Colpensiones recalled that women achieved right to vote in Colombia in 1957 and that, since then, the country has made slow progress in recognizing its social and economic rights.

In this context, the reduction of weeks is presented as a equity measure to compensate for decades of exclusion and disproportionate burdens in unpaid care works.

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In addition to the progressive decrease in weeks, according to the president of Colpensiones, the pension reform contemplate additional maternity benefits.

“Women will be able to access 50 additional weeks for one child and 100 weeks for two childrenwhich will facilitate compliance with the requirements to retire.”

Recognition

Dussán pointed out that Colpensiones has already been applying criteria that recognize the care work carried out by women at home, especially those who must stay at home to care for small children or children with special needs.

“We are recognizing the right of mothers who have children who require permanent care. This work is also a contribution to society and must be valued within the pension system,” he indicated.

Impact on thousands of women

According to Colpensiones, this measure will allow thousands of women who today are close to reaching pension age, but do not reach the required number of weeks, can access a decent pension without the need to prolong their working life in precarious conditions.

The reduction of weeks will be applied automatic to women affiliated with the public system, as long as they meet the other requirements established by law.

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An advance in pension rights

For the president of Colpensiones, the reduction in weeks represents a important step towards a more pension system fair and inclusive.

“This is not a privilege, but rather a historical correction. It is a way of recognizing the contribution of women to the development of the country and guaranteeing them an old age with greater protection and dignity,” she concluded.

Transfer of members from private funds

Dussán confirmed that the transfer of members from the private funds toward Colpensions will remain in force until July next yearas established by article 76 of the pension reform law.

“It is better to anticipate. This way people can know their work history, know how much they have saved, how much they must contribute to catch up and have the security of being in a State institution that has budgeted resources to pay pensions,” he stated.

Currently, about 17.5 million Colombians They are affiliated with private pension funds. However, Dussán expressed concern that more than 10 million are not contributingwhich represents one of the main challenges of the system.

Senior Subsidy

Another of the notable announcements was the delivery of a monthly subsidy of 230,000 pesos to women older than 60 years and men older than 65 years that are in condition of extreme poverty. This benefit will begin to be paid from January next year.

The beneficiaries must be accredited before Social Prosperitythrough the municipal mayors. According to Dussán, currently around three million people are already registered to receive this support, which will have an approximate annual cost of 9.5 billion pesosresources contemplated in the national budget.

Guarantee of pension savings

Faced with the fear of members about the possible loss of savings accumulated in private funds, Dussán assured that these resources are protected by law.

“Private funds are obliged to return savings with the corresponding interest when people meet the requirements and move to Colpensiones,” he noted.

Future of pension reform

On the review of the pension reform by the Constitutional CourtDussán explained that there is a draw in the decisions of the high court, after the defeat of a presentation that proposed declaring the unconstitutionality of the law.

The case was left in the hands of a co-judgewho must make a statement once judicial activity is restarted in January next year. Dussán expressed his confidence that the decision will be favorable and will allow the reform to come into effect.

“If the law were returned to the House of Representatives to clarify an act, Congress would have the authority to do so and refer it back to the Court. These are situations that can be overcome to move forward quickly,” he concluded.