Pension reform: requirements to receive an income of $223,000 - Sectors

The semi-contributory pillar will seek to grant an income to people who cannot retire.

The government expects to file the project this Thursday.

He pension reform bill which will be filed this Thursday, March 16, proposes to create a solidarity pillar for all those people over 65 who today do not have economic possibilities.

(You can also read: This is what the pension reform project brings)

In total, the draft of the reform proposes giving an income of 223,000 pesos to 2.5 million people. This income would be above the poverty line. In addition, it is higher than the subsidy currently granted by the Colombia Mayor program.

The draft of the bill indicates that the requirements to receive this income are:

1. Be a Colombian citizen
2. Be at least 65 years of age
3. Integrate the group of extreme poverty, poverty and vulnerability
4. Proof of residence in Colombian territory for a minimum of 10 years immediately prior to the date of submission of the application to access the basic solidarity income.

It is also noted that the linking process must be before the Department for Social Prosperity (DPS) or the entity that the Government defines.

However, it is specified that the beneficiaries of Colombia Mayor who are not eligible for the benefit of the solidarity pillar will continue to receive this program.

And in the event that they meet the requirements of the solidarity pillar, they will access it, but in no case may they receive both aid simultaneously.

Help for those who could not retire

In addition to this, there will be the semi-contributory pillar through which an income will be sought to be granted to people who cannot retire, but who have weeks in Colpensiones or savings in their individual account in a Pension Fund Administrator.

This would apply to older adults over the age of 65 who have contributed between 150 and less than 1,000 weeks to the system and who are eligible for the solidarity pillar.

For this group of people, the benefit would consist of a life annuity that would be determined based on different values such as the value of contributions.