Next February 14 at midnight is the deadline for employers to record the layoffs of their workers, resources that must be deposited in the individual accounts that they have in the four private funds (Future, Protection, Colfondos and Skandia), as well as in the National Savings Fund (FNA).
(Also read: Layoffs: how did workers use them in 2022?
Although these resources belong to millions of formal workers, they can only be used for what is established in the norm, that is, housing and education, or in the event that the person is left without a job, before which they can withdraw completely. or partially presenting the letter to the respective fund, which accredits the termination of the employment contract.
In fact, the Government and the funds themselves have insisted that layoffs are the real workers unemployment insurance before the loss of their employment, for which reason they recommend, if possible, not to make use of these resources, except for what is required by law.
(You may also be interested in: Layoffs: When and how can they be withdrawn?)
“These resources have been allies of Colombians when they lost their jobs, helping them to cover their expenses while they were able to reintegrate. They were equally supportive in obtaining housing, or in their education or that of their loved ones,» he says. Santiago Montenegro Trujillo, President of Asofondos.
Only last year, workers used a total of 7.9 trillion pesos of the layoffs that were consigned in the funds, which means that withdrawals in 2022 rebounded 12.7 percent compared to 2021.
Due to contract termination there were 2.9 billion (36.8 percent of the total), paragraph home purchase, 2.12 trillion (26.8 percent) and improvement or release of housing debt for 2.07 trillion pesos (26.3 percent). In education, withdrawals were 580,000 million, according to Asofondos.
efficient use
It is estimated that 2023 will not be an easy year due to the slowdown in the economy, which can undoubtedly affect the generation of employment in the country. For this reason, personal finance experts recommend prudent management of layoffs and not allocate these resources for uses other than those mandated by law.
According to Vladimir López, director of Fintech Products at Home Capital Outlet, layoffs are a springboard to owning your own home, because they can serve as part of the down payment or have a higher value of the down payment, which reduces the value required in the mortgage credit and, therefore, in the monthly installment, thus facilitating the borrowing capacity.
Faced with this particular point, the expert points out that to take advantage of layoffs intelligently, you must:
1. Use them as a savings plan for home purchase: To acquire your own assets, it is necessary to have 30 percent of the total value of the property, which is equivalent to the initial fee, which is why the long-term savings from layoffs will be an attractive figure to add to that initial value. , especially when this amount will increase the ability to access financing.
2. Make use of these only when necessary: It may be obvious, but it is essential to highlight that a purpose with long-term goals is the ideal destination for layoffs. For this reason, the recommendation is to use them only at necessary and strategic moments, for example, a misuse would arise when there is a job change.
3. Use them as savings to reduce financial costs: combining layoffs with personal savings for the purchase of housing will not only allow a good indebtedness capacity, but also a lower need for debt and the capacity for extraordinary payments during the term of the credit.
homebuying
And if within the plans for this year, precisely, are the purchase of housing, know that the funds have implemented mechanisms in order to facilitate their affiliates the availability of their resources in an agile manner, in such a way that they can carry out, without No inconvenience, the dream of having your own home.
Experts from the AFP Porvenir explain that for the purchase of housing there is no established percentage of withdrawal of severance pay. The worker can make a partial or total withdrawal of the balance of these for this purpose or improvement of his home, payment of property tax or to make payments to the mortgage loan.
Erik Moncada, Vice President of Clients and Operations at AFP Porvenir, points In addition, if you are an independent worker, the withdrawal is made only with the member’s identity document and that the resources can be used to purchase a home, land or lots. «It is important to bear in mind that at Porvenir this process can be done completely online, through the different electronic channels available.»
These are the requirements to make the withdrawal of resources:
1. Identification document and photocopy enlarged to 150 percent.
2. Promise of sale, signed by the buyer and the seller, authenticated by a Notary (if applicable) in case it is for a new home.
3. Certificate of freedom and tradition of the house or lot to be acquired (if used).
4. Credit approval letter (if applicable).
5. Partial withdrawal authorization letter signed by the worker (which includes the signature, name and position of the person who validates this procedure) which must contain the following information:
6. Full name of the affiliate and/or his spouse or partner or permanent partner and identification document number.
7. Authorized amount of partial withdrawal of severance resources.
8. Indicate the use that will be given to layoffs. Example: Buying a house
