Petro lashes out at the Council of State for suspending pension savings transfer
The clash over the management of pension savings has added a new chapter. The Council of State decided to provisionally suspend...
TL;DR
- The Council of State provisionally suspended a government decree to transfer $25 trillion from private pension funds to Colpensiones.
- The precautionary measure was a response to legal and financial risk concerns, halting the transfer of $20 trillion for non-retired affiliates.
- President Petro criticized the decision, accusing the Council of State of blocking workers' wishes and defending bankers' interests.
- Petro called for social mobilization on May 1st to defend pension rights and proposed a National Constituent Assembly.
- The government's decree aimed to expedite the movement of resources to the public pension system, Colpensiones.