The major challenge of pension reform in the light of women’s employment

The case of Inés Elvira Restrepo, a pediatrician specialized in intensive care, head of the household, is a reference for Deyanira Castilla. For having a disabled child and another 10-year-old, having contributed more than 10 smmlv Ines Elvira Restrepo The private fund barely offered him 1 smmlv as a pension, because according to the actuarial calculation the money should be enough for the three of them. Such a situation gave him cancer and he fought between the judicial courts for the transfer to the public system where his pension would be about 6.5 smmlv for the 30 years worked and contributed. Despite his desire to live, he lost the battle against cancer.

“In that order, the private system penalizes women because they need about 20% more savings than men; punishment extra life; it penalizes partners with younger couples and penalizes those who have young children and/or are disabled or live extra long lives,” added Castilla.

The National Coordinator of Retirees and Victims of the AFPs proposes to congressmen that in the pension reform, if the private pension regime continues in Colombia, change the individual savings component to the Contributing pillar.

Deyanira Castilla adds that in the contributing pillar saving is voluntary and not mandatory after 3 smmlv and also requests the Constitutional Court to set a precedent regarding women contributing to the Private Regime to guarantee them the same right.

Source: El heraldo