politics
State Council Completely and Provisionally Halts Transfer of $25 Trillion to Colpensiones
The State Council ordered the complete provisional suspension of the decree issued by Gustavo Petro's government that established the transfer of nearly $25 trillion from private pension funds to Colpensiones.
TL;DR
- The State Council has completely suspended a government decree ordering the transfer of $25 trillion from private pension funds to Colpensiones.
- This judicial decision halts the measure pushed by the national government.
- The suspension came after a previous partial halt and was extended through an urgent precautionary measure.
- Lawsuits against the decree cite regulatory overreach, financial risk, and potential diversion of power.
- Asofondos, representing private pension funds, praised the decision, stating it protects savers' funds.
- The decree involved transfers from affiliates who took advantage of a 'window of opportunity' in pension reform legislation.
- Colpensiones and various government ministries had filed appeals against the initial partial suspension.