The Petro government reform project also contemplates the calculation to know how much the pension payment will be in Colombiathis taking into account the change in the pillars.
The first thing to remember is that those workers who can contribute to private funds, at the end of their working life, will see that the savings will be unified by Colpensiones and this will be the institution in charge of transferring the money.
About how much will be the pension payment in Colombiathe equation will be based on what comes out of the quoted amounts and the time in which the contributions were made.
Variables such as the percentage of settlement income and the number of current monthly legal minimum wages, to which the base settlement income of the Contributory Pillar corresponds, will be fundamental.
This is how you can know how much the pension payment will be in Colombia
“The Base Settlement Income is the average of the contribution base income in the Average Premium Component, during the last ten (10) years of contributions prior to recognition. of the pension, updated annually based on the variation of the Consumer Price Index, according to certification issued by DANE.”
That is, to know how much the pension payment will be in Colombia, the settlement and salary variables must be taken, based on how high the worker’s salaries were in the last 10 years of their working life.
An important point that the reforms bring about as a change is that, for every additional 50 weeks to the minimum requirements, the percentage will increase by 1.5% of the income.
“Reaching a maximum amount of the Average Premium Component benefit of 80% of said income, in a decreasing manner depending on the base settlement income level, calculated based on the formula established in this article,” adds the reform.
Guilds such as Asofondos have reiterated that precisely knowing how much the pension payment will be in Colombia will change on the basis that the returns and The administration of savings is going to be substantially modified and those resources that belong to the workers could be affected.
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These would be the pillars of the pension system in Colombia
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Solidarity pillar: for all those over 65 years of age, which are 2.5 million people, they will be given an income above the poverty line, equivalent to $223,000
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Semi-contributory pillar: it would provide an income to people who could not retire, but who have weeks in Colpensiones or savings in their individual account in private funds
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Contributory pillar: there would be all the people affiliated with the System, where Colpensiones will receive contributions up to the first 2.3 minimum salaries contributed and the Pension Fund Administrators will receive contributions that exceed that limit.
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Voluntary individual savings pillar: it would be for those people who have the ability to pay can save with this mechanism to obtain a better pension
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The reform approved by the Congress of the Republic says that the system will have the channels respective so that workers can resolve doubts about, for example, how much the pension payment will be in Colombia.
