The chairman of the Colombian Association of Managers of Pension and Dismissal Funds (Asofondos), Santiago Montenegro, assures that in a year of political and social changes, such as 2022, the redundancies in the funds showed a stable behavior.
The union points out that at the end of last year, the consolidated value of workers’ layoffs in the funds (Colfondos, Porvenir, Protección and Skandia) was $15.9 trillion, a figure slightly lower than in 2021 when it was $16 . .2 trillion. For their part, a total of 9.3 million employees were affiliated to the funds.
In total, members of the funds raised $7.9 trillion, indicating that the year-over-year increase in withdrawals was 12.7%.
When analyzing the reasons for retirement, it turns out that before the concept of contract termination, employees received more than $2.9 trillion, a figure that represents 36.8% of the total. Furthermore, they used $2.12 billion for home purchase and $2.07 trillion for home improvement or forgiveness (53% of the total).
Montenegro explained that compared to 2021, use for home purchases fell by 1.1% ($2.14 trillion), while take-ups for home improvement increased by 27% ($1.6 trillion). For education, workers withdrew $580 billion, 7.4% of total withdrawals. “These resources have been allies of Colombians when they lost their jobs, helping them cover their expenses while reinvesting themselves,” says Asofondos president.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
