Colombia Plans 6.8 Billion Dollar Pension Asset Transfer
The Colombian government aims to transfer 25 trillion pesos from private funds to state administrator Colpensiones. The move follows a major 2024 pension reform.
The government of Colombia[Country:{ "assets":{ "country":"CO" } }] is seeking to transfer 25 trillion pesos, or approximately $6.75 billion, from private pension funds to the state-run administrator, Colpensiones. According to a draft decree published by the labor ministry, the proposal requires Pension Fund Administrators (AFPs) to move specific individual savings account balances to the public system within 15 days of the decree's issuance. These accounts belong to individuals who opted to transition to the public system during a 2024 pension reform that is currently under review by the constitutional court.
