Gustavo Petro’s pension reform was approved in the Senate: this is missing to become a law of the Republic

Gustavo Petro’s pension reform was approved in the Senate: this is missing to become a law of the Republic
Gustavo Petro’s pension reform was approved in the Senate: this is missing to become a law of the Republic

With 49 votes in favor and 4 votes against, the pension reform project was approved in the Senate.- credit Colprensa/Prensa Senate

The pension reform project of the Government of Gustavo Petro was approved in the plenary session of the Senate of the Republic in the second debate. Now it will go to the House of Representatives and if it goes ahead, it will reach presidential sanction to become a Law of the Republic. Step with 49 votes in favor and 4 votes against after an intense debate on April 23.

During the debate, the Minister of Labor, Gloria Inés Ramírez, assured that “we are responsible and Rigorous studies were carried out with trained teams, and we have heard many, that is why we calmly and rationally say that we need one year, by 07/01/2025 we will be ready to work.”

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For Senator Martha Peralta, speaker coordinator, the approval of the project is a victory for the Colombian people, for the elderly population of our country, a victory for the most helpless.

“Increasingly closer to having social justice for the elderly in Colombia, today a reform is approved that benefits the Colombian people, millions of adults will escape poverty and more Colombians will retire,” he insisted.

The Minister of Labor, Gloria Ramírez, celebrated the approval of the pension reform in the Senate – credit Ministry of Labor

After this, the Minister of the Interior, Luis Fernando Velasco, celebrated, among other things, that The pension bonus of $250,000 will be a reality for more than three million adults over 80 years of age who never contributed. In addition, men could retire with 900 weeks of contributions to the system, while women would do so with 750 weeks, taking into account the current rules of Law 100 (Comprehensive Social Security System).

During the debate, Senator Paloma Valencia, from the Democratic Center, insisted on paying attention to this issue, because this will affect all Colombians.

“When those calculations are made to a Colombian, they are terrified. You have to tell him that 68% of these resources arise from the investment made by the funds, that is, the return that the funds give you, because the average premium regime has not been good for minimum wage people because they have to contribute more weeks, while in the private regime they contribute 150 weeks. In the average premium regime you have to contribute 1,300″, he indicated.

He specified that in real terms the same money was contributed, only that he had to contribute even more with an aggravating factor, and that is that in the RAIS, which is the private system, at a minimum wage, but it is exactly the same as what is to contribute, more than what is contributed in the private system than in the average premium system because it goes from 1,300 weeks to 1,150 in the private regime.

The pension reform will force Colombians to contribute to Colpensiones – credit Getty Images

For lawyer Daniel Briceño, councilor of Bogotá, the pension reform is disastrous and he implied that the savings of Colombians will be expropriated,

“The expropriation of the savings of millions of Colombians takes another step, the suppression of freedom of choice advances, the problem of the fiscal gap continues and the incompetent State keeps the resources of labor. Really unfortunate,” he noted.

On the other hand, Senator Miguel Uribe Turbay regretted that the Bank of the Republic was chosen to manage the pension savings fund. According to him, They intend to politicize one of the most serious institutions in the country.

“The Bank of the Republic is not designed to manage the savings fund. Its mission is to take care of the pockets of all Colombians by maintaining low and stable inflation. “You don’t play with Colombian money,” said the senator from the Democratic Center.

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