Consignments of businessmen in layoffs increased 3.54%

The Financial Superintendence of Colombia said that between January 1 and February 14, 2023, the payment of employers to workers for severance pay amounted to $11 trillion 772 million, which represents an increase of 17.1% in nominal terms or 3.54% in real terms compared to the layoffs consigned in 2022.

The total of affiliates to layoffs amounted to 11,442,517 workers, of which
6,885,030 are men and 4,557,487 are women.

Read: Lowered severance pay for home purchase in 2022

61% of the affiliates to the unemployment funds are located mainly in Bogotá (34.1%), Antioquia (17.7%) and Valle del Cauca (9.2%).

In 2022, affiliates of private administrators withdrew a total of $7.89 billion for severance paypresenting an increase of 12.7% compared to the previous year.

Read: How workers used layoffs in 2022

The main cause of withdrawals was due to the termination of the employment contract (36.8%).
Of the withdrawals related to the termination of the contract, 44.9% corresponded to savings from the long-term portfolio and 26% to the short-term portfolio.

Additionally, it is observed that the termination of the contract and the improvement of housing
they increased their participation by 2.1 and 3 percentage points, respectively, between 2022 and 2021, said Superfianciera.

The Porvenir Pension and Severance Fund said that it registered a historic collection of this social benefit for $4.58 billion. This figure was 17.19% higher than that reported in 2022.

Miguel Largacha Martínez, President of Porvenir, highlighted that this collection figure, the highest ever achieved by a severance pay administrator, is due to the commitment of Colombian businessmen to each of their workers and to the development of the country. “These positive results reflect the confidence placed by Colombians in Porvenir and we call on our more than 5.1 million affiliates so that this year they give their savings the value they deserve”.

Read: Tips for the responsible use of layoffs and their interests

At the end of 2022, the severance pay withdrawals in Porvenir allowed more than 1.6 million affiliates to make use of this purposeful savings for concepts such as contract termination ($1.31 trillion), home purchase ($1.18 trillion) , locative repairs ($694,809 million) and education ($266,242 million).

The Severance Fund Protección received appropriations for $3.60 billion, with growth close to 28%, the National Savings Fund for $2.68 billion, Colfondos for $735,592 million, and Skandia for $162,495 million.

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