Pension Reform Complicated the Option for Women to Retire with Fewer Contribution Weeks: "No Person in the Transition Regime Has Benefits"
Labor and Employment attorneys Diego Acevedo and Camilo Cuervo were interviewed by Infobae about the implications of Colombia's pension reform following the Constitutional Court's decision to uphold most of Law 2381 of 2024. The article examined the key debates that remain unresolved regarding the gradual reduction of contribution weeks required for women, scope of benefits available to individuals covered by the transition regime and challenges the system faces in ensuring its financial sustainability. Diego and Camilo shared their perspectives on the reform's impact on individual pension savings and emphasized the need to preserve the system's long-term economic viability.
"The determining factor for the profitability of an individual account is not the administrative fee considered in isolation, but rather the effective proportion of contributions that is allocated to capitalization," Diego said.
"It would violate Article 48 of the Constitution, which states that all pension-related regulations must be financially sustainable," Camilo stated.