'This is a pyramid': Oviedo criticizes decree regulating the transfer of $25 trillion from private funds to Colpensiones
Juan Daniel Oviedo Photo: Rodrigo Sepúlveda / Portafolio
TL;DR
- A decree allows the transfer of $25 trillion from private pension funds to Colpensiones, sparking debate.
- Juan Daniel Oviedo criticizes the decree, labeling it a 'pyramid scheme' to address fiscal pressures and suggesting it's a politically motivated move.
- President Gustavo Petro defends the decree, stating that pension savings belong to the account holders and the transfer is a free choice.
- Petro refutes claims of misuse of funds, emphasizing the state already finances Colpensiones.
- The regulation targets specific groups, including those already retired by Colpensiones with savings in private funds and those who transferred regimes but haven't met retirement requirements.
- Private fund administrators must transfer funds in stages, including contributions and generated returns.
- The measure aims to align assets with Colpensiones' obligations, but concerns about confidence and legal certainty remain.