This is what you need to know about the pension bonus

This is what you need to know about the pension bonus

The pension bonus is the right of people who were affiliated with the Average premium plan (before ISS-today Colpensiones; National Provident Funds such as Cajanal and Caprecom, among others) so that these past contributions are taken into account when transferring to a pension fund.

In other words, the bonus is the way those contributions are spent on the private regime (Individual Savings Regime with Solidarity -RAIS) to complete the total capital for the employee’s pension. It is part of the capital to fund the benefit to which a participant is entitled, be it a pension or a return of assets.

It can only be sent to the member’s individual account and added to the retirement savings and the revenues generated by this. The Act stipulates that the age at which the bonus takes effect is 62 years for men and 60 years for women. In the case of disability and survivor’s pensions, it commences at the time of incapacity for work or death of the contributor.

Source: El heraldo