The consultation table for the pension and labor reform, in which the Ministry of Labor, unions and workers’ unions participated, presented the main elements of the draft of the pension reform in which four pillars stand out: one solidary, another semi-contributive, one contributory and one voluntary.
Some of the most recurring questions about the project can be answered below.
(Also read: Do you have more than 1,000 weeks of contributions? The pension reform would not affect you).
What workers will not be able to choose between Colpensiones and private funds?
The contributions of all people who earn 3 minimum wages or less per month will necessarily go to Colpensiones. Contributions after the first three minimum wages may go to the pension fund administrators (AFP).
Do the weeks necessary for the right to retire change?
The people who would now be forced to contribute to Colpensiones will earn three minimum wages or because less will lose the option of retiring with 1,150 weeks, as they can do in private funds, and the mandatory contribution to retire is raised to 1,300 weeks.
Will there be the income of half a minimum wage for all non-pensioners announced in the campaign?
The rent would be 223,000 pesos per month, closer to the current subsidy in Colombia, greater than the average minimum wage (500,000 pesos last year) offered in the electoral campaign.
(Of interest: This is the draft of the pension reform that the Government will file).
Barely one in four people of the required age is duly pensioned.
Federico Puyo. WEATHER Archive
Will the rent be for all non-pensioners?
It is advertised for those over 65 years of age and not for all people of pension age (57-year-old women and 62-year-old men), who also demonstrate that they are in a condition of extreme poverty, poverty or vulnerability. For this reason it would not be the 3 million people announced in the campaign, but 2.5 million people.
What happens with the savings already established in private funds?
The money that affiliates have in their accounts would continue to be managed by the AFPs and would be used to recognize their pensions. However, the new contributions on the first three minimum wages quoted will no longer go to the workers’ accounts.
(Also: Worried about your pension? So you can check your history and weeks of contribution).
What about those who contribute, but not enough?
Similar to current periodic economic benefits (boeps), The project says that the semi-contributory pillar will seek to grant an income to people who cannot retire, but who have weeks in Colpensiones or savings in their individual account in a pension fund administrator. It would apply to older adults over 65 years of age who have contributed between 150 and less than 1,000 weeks to the system and who are eligible for the solidarity pillar, that is, they show that they are in the population of extreme poverty, poverty or vulnerability. 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.
What will the transition regime be like?
People who at the entry into force of the law have 1,000 weeks of contributions would continue to be subject to Law 100 of 1993.
When will the bill be filed?
The project will finally be filed on March 22.
What will the bonus for mothers be like?
They will have a bonus of 50 weeks of contributions for each child, up to three children.
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