Tag: Asofondos

The pension leaves 90% of employees without savings: Asofondos

The pension leaves 90% of employees without savings: Asofondos

Asofondos President Santiago Montenegro warned of workers’ rights and benefits being jeopardized by the pension reform. He pointed out that for 90% of employees, savings will be jeopardized if the project remains as approved in the first debate. “Dividing the contributing pillar in half and forcing the contributions corresponding to the first 3 minimum wages […]

So far this year, depositors’ income in the AFPs is $24 billion

So far this year, depositors’ income in the AFPs is $24 billion

On the one hand, the economist also emphasized the freedom of choice that employees have today, most of whom have opted for an AFP. On the other hand, when he saw the consolidated savings, he concluded that the management of the management companies was so positive that approximately 67.5% of the total savings correspond to […]

Pension reform must think about the future of young people: Asofondos

Pension reform must think about the future of young people: Asofondos

The president of Asofondos, Santiago Montenegro, said that the pension reform must be carried out with the future of young people in mind and that it must be sustainable also after the next elections. He pointed out that the reform cannot ignore the phenomenon of the rapid aging of the population, which means fewer active […]

Petro criticizes fund investments abroad

Petro criticizes fund investments abroad

President Gustavo Petro honored the agreement with the Colombian Association of Pension and Dismissal Administrators (Asofondos) to conclude their congress in Cartagena. In his speech, the president acknowledged that health care reform has played a bigger role than labor and pension reform. “I must confess that the times of debates and public discussions have led […]

Neither Petro nor Mintrabajo attended the invitation to the Asofondos Congress

Neither Petro nor Mintrabajo attended the invitation to the Asofondos Congress

The Asofondos Congress taking place in Cartagena will not have the presence of President Gustavo Petro, who was announced for the closure, nor of Labor Minister Gloria Inés Ramírez. This event is one of the big scenarios where private pension and unemployment funds discuss issues relevant to the sector, such as the pension reform in […]

Funds from contributions cannot be used for grants: Asofondos

Funds from contributions cannot be used for grants: Asofondos

The president of the Colombian Association of Pension and Unemployment Administrators (Asofondos), Santiago Montenegro, assured that in the pension reform, the contribution pillar should be based on savings and individual capitalization. “Due to the aging of the population and the decrease in population in the world and in Colombia, the average premium systems are not […]

Young people will be most affected by the pension reform

Young people will be most affected by the pension reform

According to industry experts, the financial sustainability of the new pillar system proposed by the national government’s pension reform is one of the main concerns. Daniel Wills, technical vice president of Asofondos, assured that young people will be most affected by the provisions of the pension reform that will be passed in the Congress of […]

This is the pension system proposed by the reform

This is the pension system proposed by the reform

Among them is the fact that the opportunity to retire 1,150 weeks offered by the Individual Savings with Solidarity Scheme (RAIS) of the private funds (Colfondos, Porvenir, Protección and Skandia), since when all employees transfer to Colpensiones, the requirement of 1,300 weeks is applied. The president of Asofondos, Santiago Montenegrosaid the ability to retire at […]

The Union’s pension proposal would triple pension liabilities: Asofondos

The Union’s pension proposal would triple pension liabilities: Asofondos

Putting into practice the proposals of the union organizations for pension reform in the country would triple the liabilities of the system, reaching a level of 275% of GDP, which is estimated by the Economic Study Area of ​​Asofondos. “Financial sustainability is being questioned and creating a real pension bomb,” Santiago Montenegro, president of Asofondos, […]

Asofondos reported a $12.8 trillion drop in retirement savings by 2022

Asofondos reported a $12.8 trillion drop in retirement savings by 2022

Retirement savings totaled $345 trillion at the end of 2022, representing a $12.8 trillion decline compared to 2021 data, which was $357.8 trillion, representing a return of nearly 7% effective per year. These numbers were shared by Asofondos, an association of the private pension funds Colfondos, Porvenir, Protección and Skandia, with the momentum these funds […]

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