The Attorney General’s Office launched an alert for pension reform: it would not be viable due to tax effects

A new voice joined the alerts that have been sent in recent days to the Ministry of Labor and the Congress of the Republic, due to the fiscal effects of the pension reform, which although they will not be felt immediately, in the long term they pose important challenges in terms of sustainability and the ability to respond to the allowances of those who are going to retire in the coming decades.

This is the Attorney General’s Office, which through a letter to Minister Gloria Inés Ramírez requested that four points that it described as structural in the project be reviewed as soon as possible and that If they are not reviewed soon and materialized, they will put the viability at risk of the changes you want to make.

These elements to be reviewed, according to the Public Ministry, are essential because they are related to the rights of the members, especially in relation to the recognition of the economic benefits to which they are entitled, in addition to legal, technical and financial gaps in these regulations. .

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The first of the observations presented to the National Government It focused on the capabilities of the administrator of the medium premium regime, Colpensiones, an entity that is warned that it does not have the capabilities to face the challenges that it will have to face when the new system comes into force.

The Ministers of Finance, Ricardo Bonilla; of Labor, Gloria Inés Ramírez, and of Mininterior, Luis Fernando Velasco, after the approval of the pension reform in the third debate.

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“The figures known from Colpensiones, which have been the subject of rigorous analysis by the Entity, show that it does not have the technical, administrative and operational capacity to launch an operation that would involve the transfer of nearly 19 million of people,” said the Attorney General’s Office.

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According to the statement of this control body, through the Office of Labor and Social Security Affairs, the lack of regulation of at least 45 structural issues of the system was detected, which could violate the rights of affiliates who request recognition of an economic benefit, high judicialization and legal, technical and financial gaps.

The alerts were also extended to the Ministry of Finance and the Congress of the Republic, which were asked to listen and be receptive to the calls that have come from study centers and unions in general about the fiscal impact of the pillars that were they are going to create with the reform.

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“It is necessary that the Government, the Ministry of Finance and Public Credit and the Congress of the Republic take into account the studies and concepts of the fiscal cost that the project would generate in the General Budget of the Nation, data that must also be taken into account in the analysis of what is related to the value in all the pillars medium and long term,” they added.

Pension reform

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Likewise, he highlighted that “currently and facing July 1, 2025, the planned date to begin operations, Colpensiones is not prepared to assume the obligations that the reform would impose on it, taking into account the technological requirements, the absence of budgets, the “times for drawing up contracts and the necessary trial periods, among other aspects.”

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Taking the latter into account, they assure that it is necessary to look carefully at the appropriate date for the reform to come into effect, since the times are very tight and it could be done, but gradually from 2026.

Minister of Labor, Gloria Inés Ramírez

Courtesy – Ministry of Labor

Finally, the Attorney General’s Office stated that the reform must guarantee the construction of a comprehensive old-age protection system that is sustainable and viable for future generations, which under no circumstances will represent an impact on the rights of the country’s affiliates and pensioners.

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Portafolio spoke about these alerts with Marcelo Duque Ospina, an analyst at ‘Como Me Pensiono’, who indicated that in everything that happens with the pension there are two very important issues that must be taken into account, the first being the number of affiliates who would pass to Colpensiones if the project is approved as is.

Pension Reform Debate in Congress

Courtesy of Mintrabajo and Senate

“If everyone who earns less than 2.3 minimum wages in prices or values ​​of the year 2024, approximately $4 million, would become obligatorily affiliated with colpensiones. We are talking about more than 18 million people. That means that the public pension administration entity, Colpensiones, would have tener a technical infrastructure of enough people to be able to support all the requirements that this implies,” he stated.

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This expert stated that another fundamental aspect, which even the Attorney General’s Office highlighted, is that in the pension reform project the word “will regulate” or synonyms is used 90 times, a situation that makes it clear that the Government does not know from now on how some things will operate “or Their strategy is to leave this issue open so that after Congress approves they can, in the way they consider, regulate.”

Pension reform

Sergio Acero Yate / Portfolio

Taking all this into account, Duque Ospina maintains that there are still many elements to analyze and that therefore, the future of the pension reform cannot be taken lightly or else the country will be exposed to great risks that Later generations who see that their ability to retire is at risk will regret it.