Learn how to increase your pension, even if your salary was low
To achieve retirement, it is necessary to complete 1,300 weeks for men and around 1,250 for women. Photo: Istock
TL;DR
- Pension amount in Colombia depends on Income Base for Liquidation (IBL) and number of contributed weeks.
- Exceeding minimum contribution weeks (1,300 for men, 1,250 for women by 2026) can increase pension.
- Each additional 50 weeks contributed can increase the pension by approximately 1.5% of the IBL.
- This increase applies even with low salaries, rewarding consistency in contributions.
- The maximum pension increase from additional weeks is capped at 80% of the IBL.
- Reviewing work history and consulting pension funds is advised for strategic retirement planning.