Concern over decree that would seek to transfer more than $25 trillion from pension funds to Colpensiones

Concern over draft decree that would change the rules of the game for pension transfers. Photo: Image generated with Artificial Intelligence - ChatGPT

Concern over decree that would seek to transfer more than $25 trillion from pension funds to Colpensiones

TL;DR

  • The Ministry of Labor proposed a decree to transfer over 25 trillion pesos from AFP-managed individual savings accounts to Colpensiones.
  • Asofondos president Andrés Velasco stated the decree aims to use these funds contrary to the law, potentially freeing up national budget resources.
  • The decree contradicts Law 2381 of 2024, which designates these funds for a public pension fund to guarantee future pension payments.
  • Article 76 of Law 2381 allows individuals nearing retirement to transfer between pension regimes, with funds intended for a savings fund.
  • Over 118,000 individuals have used this transfer window, with their balances totaling over 25 trillion pesos.

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