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The Ministry of Labor presented the draft decree that would bring substantial changes to the pension system.
TL;DR
- The Ministry of Labor has drafted a decree proposing significant changes to the pension system.
- The Comptroller General has declared the government's plan to move $25 trillion from private pension funds to Colpensiones unviable.
- The Comptroller warns that this measure could lead to pension savings being used as current expenses, compromising long-term sustainability.
- The draft decree concerns the transfer of funds from the Individual Savings Regime to the Defined Benefit Regime.
- Current regulations may not allow for this large-scale movement of resources, especially for individuals not yet eligible for a pension.
- Over 100,000 individuals could have their pension contributions endangered by this proposed change.
- Legal interpretations suggest that funds cannot be transferred until the Contributory Pillar Savings Fund is operational, which is currently not the case.
- The Comptroller fears this could increase the state's pension liabilities by substituting long-term savings with short-term solutions.