This is what a Colombian must save to get a pension of five million in the funds
Achieving a pension that guarantees financial stability in retirement is one of the greatest concerns for Colombian workers. With the entry into force of the adjustments of Law 2381 of 2024, the pension landscape has taken a turn towards a pillar system, where long-term planning and knowledge of the requirements become fundamental.
TL;DR
- A good pension in Colombia depends on continuity of contributions, income level (IBC), and time in the system.
- In 2026, age requirements are 57 for women and 62 for men; minimum weeks are decreasing for women to 1,000 and remain 1,300 for men in the prima media regime.
- In Colpensiones, a 5 million peso pension requires a past average salary of approximately 7.7 million pesos for 1,300 weeks, or 6.3 million pesos for 1,800 weeks.
- Private funds require an accumulated capital of 1.45 to 1.6 billion pesos for a 5 million peso monthly life annuity, dependent on capital and returns.
- Public pensions are subsidized by the state, while private pensions rely on high contributions and efficient yield management by the administrator.