Pensioner
State Council suspends partial transfer of $25 trillion to Colpensiones
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Colombia's State Council suspended Chapter 5 of Decree 415 of 2026, ordering AFP to transfer $25 trillion immediately to Colpensiones. The precautionary measure affects savings of those who switched regimes but have not yet met pension requirements. Asofondos requested extending the suspension to the remaining $5 trillion.
The State Council suspended the transfer of 5 trillion pesos from pension fund administrators to Colpensiones. The government expressed deep concern over the impact on pension payments. President Gustavo Petro criticized the decision and announced legal action.
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The Consejo Gremial stated that the transfer of $5 trillion from AFPs to Colpensiones within six days is unnecessary to cover pensions for those who switched via the opportunity window.
Jaime Dussán, president of Colpensiones, announced meetings and technical tables with sector actors to discuss Decree 0415 of 2026, which governs the transfer of $25 trillion from private funds to Colpensiones. He specified that $20 trillion will go to current contributors and $5 trillion to pensioners. He noted that around 109,000 people have been transferred, with nearly 24,000 now receiving monthly payments.
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Colombia's Labor Minister Antonio Sanguino defended the government's labor and pension reforms at the XIX Asofondos Congress, representing President Gustavo Petro. He respectfully urged the Constitutional Court to advance its review of the suspended pension reform. He highlighted preliminary progress despite the suspension.
A Drees study reveals that 35% of people retiring between 2012 and 2020 saw their living standards rise, with retirees now faring almost as well as workers. Three COR-commissioned studies confirm the benefits of raising the legal retirement age, an economically sound but politically charged option.
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President Gustavo Petro defended his pension reform in response to Skandia CEO Santiago García, who warned about minimum wage hikes above inflation. Petro stressed that long-term sustainability relies on national wealth and productivity, not real wages. He highlighted that pensions must adjust to the vital basket.
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