The concern of the workers becomes evident when they are already reaching the minimum pension age or the weeks established by law to access this constitutional right. Especially, Doubts begin to arise when the contributor exceeds the required limit and does not know what benefits are granted for quoting additional time to the minimum required.
(Keep reading: What are the factors that determine the price of the euro?).
Everything resulted from the type of regime to which the employee is enrolled: medium premium or public (colpensions)of individual pension savings, that is, private funds; and those who are under the special regime, that is, teachers, police, military forces and Ecopetrol officials.
To do this, you must take into account that there are some essential requirements that you must meet before thinking about quoting your pension settlement. For the public scheme, for example, lLaw 100 establishes that a male citizen must complete 1,300 weeks of work and have completed 62 years of age; for women the time is the same, but the age is valued at 57.
(Related articles: From 2,200 to 2,700 pesos? This would cost the Chocoramo after the reform).
What happens if you exceed the minimum weeks? (Medium premium regime)
There are cases in which the weeks are met, but not the pension age, so You must meet both requirements if you want to aspire to access the liquidation. This will bring you more weeks of work that will help you qualify for an increase in base income.
Since 2005, for every additional 50 weeks to the minimum required, an increase of 1.5 percent of its contribution is made and up to a maximum amount of 80% of said income.
“The person will have the obligation to continue contributing until they reach the pension age, what is the advantage? The base income on your 1,300 weeks will be increased by that additional work time. For example, if you contributed 65% of your salary, this may be increased reaching a maximum pension amount between 80 and 70.5%”, said Alberto Mario Jaramillo Polo, Director of the legal department of the International Legal Center.
(Read: Did you have a flight abroad with Viva? These are the options of other airlines).
On the other hand, a single employee and exclusively may contribute a maximum of 1,800 weeks equal to 80 percent of the replacement rate. In other words, if you have worked longer than the maximum limit, you will not have remuneration evidenced in your pension.
individual regime
People who are enrolled in the private pension fund can make voluntary contributions to their pension, which will mean an increase in their pension allowance at the time they start receiving it. They can also claim this money before the required age, if and only if they have enough cushion to cover the settlement.
Establishes a minimum of 1,150 weeks to be entitled to the pension called the minimum validity guarantee
“Here people retire with the capital that was saved in their individual account. Additionally, it establishes a minimum of 1,150 weeks to be entitled to the pension that is called the minimum validity guarantee, this differs from the public one because it is measured based on savings,” Jaramillo told EL TIEMPO.
“What does the rule say? If you have a capital, a savings with which you can retire with 110 percent of the minimum wage, you will be able to access the liquidation (…) there are times that it happens that the minimum weeks are met, but you do not have the capacity money to access the pension,” he added.
In this sense, there is no limit of 1,800 weeks as in the public scheme and it will only be your pension savings capacity that determines your pension, that is, the more weeks, the more savings and the better conditions for settlement.
(It may interest you: These are the options that airlines offer to stranded Viva passengers).
More news
DIGITAL SCOPE WRITING
TIME
