The president of the Colombian pension manager, Jaime Dussán, confirmed that despite the problems that the law on pension reform has created, it will be approved in the Congress of the Republic as soon as possible. “The pension reform had a debate and approval by the majority in the Seventh Committee of the Senate of […]
Tag: Pension funds
Superfinanciera requests information from supervised entities
Colombia’s financial regulator sent a letter asking for “more cooperation” at the counters of the legal representatives of banks, brokers, insurers, cooperatives and all companies and organizations supervised by the financial authority. In a few words, the document, signed by the head of the financial superintendence Cesar Ferrar, aims to access information of any person […]
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
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 […]
Interview Additional retirement brings with it the threat of rising interest rates, catastrophic scenarios for the credit sector and the collapse of fund returns. As Consultique analyst Paola Ferrari explains to Today, pension funds are now less profitable than severance remaining with the company.
After the Credit Suisse crisis, there is another threat to the credit system: pension funds. The rapid increase in interest rates and the decline in the stock market caused by geopolitical tensions led to a decrease in pension fund returns, bringing the much-supported additional pension to the agenda. If it is true that future retirees […]
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, […]
Collective pensions and pension funds do not fulfill their function: mintrabajo
He, in turn, explained that the pension reform is intended to move from a system inwards competence to an additional one to give more citizens access to the pension. “The system we have prepared has 3 pillars: a first pillar of solidarity, which would be financially responsible for the national budget. A second pillar is […]
These are the pillars proposed by the government’s pension reform
If there is anything clear about the pension reform, it is that it proposes a single pension system that replaces the two existing ones and that it works with a system of pillars. That is the starting point of the bill in which the pension reform subcommittee works under the leadership of the Ministry of […]
Successes and doubts of the pension reform project
The former finance minister, Jose Manuel Restrepo, states that the ideas of the pension reform are worrying. “They turn private savings into short-term fiscal expenditures and increase public debt down the line, destroy credit and long-term investment, erode the capital market, kill the AFP model and erode government funding,” he says. Vicente Umaña points out […]
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 […]