Could the government's pension reform also sink? President Petro responds

Through your X social network account, President Gustavo Petro He referred to one of the projects that is a pillar of his government: that of the pension reform. The president assured that The initiative would be about to sink in Congress and defended, once again, the proposal.

“The pension reform is also about to sink due to time. Time that was deliberately wasted. We have one of the worst pension systems in the world, it would be unheard of for the Congress of the Republic to turn its back on the pension reform“Petro stated.

(See: Minhacienda says that in the pension reform a minimum wage fund would be exhausted).

For now, The pension reform project has only survived one debate in Congress and he has been trying, for several weeks, to pass the second in the Senate Plenary.

If this initiative were to fall, It would be the second reform that would be sunk by Petro in the Legislature, after the health reform was shelved.

Taking advantage of the call he made regarding the possibility of the pension's collapse, Petro defended some of its most important points. Promptly, He talked about the pillars.

“The debate has focused on the pillar, that is, from what salary level a worker can start contributing to a private fund. We proposed 4 minimum salaries and some propose 1, the higher the salary level to start contributing, the more seniors could be helped with a pension bonus financed with state resources. The lower it is, the more commissions for managing the annual flows delivered by contributors to private funds would go to the owners of those funds.“, he claimed.

(See: Pension funds want a pension reform based on savings).

He added that The discussion is mitigated when his government He decided “maintain the accumulated pension savings, until now created, in the hands of those who now have it: the owners of the private funds. They can stop earning commission for the flow and start earning commission for the accumulated one, we have accepted as long as they do not increase the profits they currently obtain“.

(See: 'In the pension reform, the contributory pillar must be a minimum wage').

In that line, He pointed out to some congressmen that they wanted to give more to private funds: “They earn commissions for the administration of the annual flow of contributions and that is why they propose lowering the pillar and earning for the accumulated amount that reaches 400 billion. Such a proposal would lead to sinking the pension reform“.

He stated that private funds do not provide the majority of contributors with a pension in the future, which is why, according to Petro, “Hundreds of thousands of workers move from private funds to Colpensiones, which does guarantee a pension“.

And he said that if the pension reform is not approved, private funds could go bankrupt in the short term.

(See: Last-minute agreement would give respite to the pension reform).

“Another hundred thousand workers would move from private funds to Colpensiones, not only with their contributions, but with their accumulated savings.“.

And he closed by stating that yesor proposal seeks a pillar system “in which the two current systems do not compete but are articulated“

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