President Gustavo Petro sharply criticized the State Council's suspension of a $25 trillion AFP-to-Colpensiones transfer under Decree 415, now limited to about $5 trillion, accusing business leaders of theft if they withhold the funds. Asofondos pushes for full decree suspension amid ongoing legal battle.
In a continuation of the dispute over Decree 415 of 2026—aimed at accelerating transfers from private pension funds (AFP) to Colpensiones—the State Council's April 28 partial suspension of Chapter 5 reduced the immediate transfer from $25 trillion to roughly $5 trillion. This affects savings of affiliates who switched regimes but lack vested pension rights.
President Petro reacted forcefully on X: "¿Oiga cómo que tendrán que girar $5 billones? Si no devuelven el dinero, son ladrones. Están esperando que el pueblo colombiano pague los $5 billones de las personas que se pensionaron en Colpensiones y que habían ahorrado esos dineros en los fondos de los banqueros." He labeled it a "true act of theft," targeting the Aval group (Luis Carlos Sarmiento) and Bancolombia group.
Asofondos president Andrés Velasco highlighted the split: $20 trillion from non-eligible contributors and $5 trillion from about 20,000 vested pensioners. The association seeks to suspend the entire decree, arguing excess regulatory power and financial risks. Chapter 6, covering vested rights transfers (50% in 20 days, balance in 10 more), remains potentially intact.
This follows earlier coverage of Colpensiones defenses and Petro's prior support amid warnings from groups like Anif. Part of the 'AFP $25 Billones Transfer to Colpensiones' series.
