Jaime Dussán, president of Colpensiones, defended the decree ordering the transfer of nearly $25 billones in savings from AFP to the public entity, dismissing concerns over liquidity and profitability. The measure affects 119,632 affiliates who switched regimes, as the financial sector warns of risks to savings. Decree 0415 of April 20 regulates these transfers amid judicial review of the pension reform.
The Colombian government issued Decree 0415 of April 20, 2026, requiring Administradoras de Fondos de Pensiones (AFP) to transfer nearly $25 billones in savings from 119,632 affiliates who switched to Colpensiones' prima media regime by February 5. Of these, 22,472 are already receiving pensions. AFP must deliver 50% of the resources within 20 days and the rest in 10 more days, in cash or authorized assets like debt securities overseen by the Superintendencia Financiera.
Jaime Dussán, president of Colpensiones, stated the entity is prepared to manage these funds, as it already handles over $80 billones. 'There are no liquidity or profitability risks,' he said, noting that $14 billones were transferred in 2025 without issues. Dussán challenged private sector criticisms and defended payments via titles like CDT, arguing the resources belong to Colpensiones affiliates.
The financial sector raised concerns. José Ignacio López, president of Anif, noted that TES are not immediately liquid for pension payments. AFP highlight their portfolios' 8.5% average real annual return over 15 years, contrasting with Colpensiones' solidarity model. Asofondos is considering legal action against the decree.
The measure regulates article 76 of Law 2381 of 2024, which remains in effect despite the Constitutional Court's review of the pension reform. Dussán attributed criticisms, such as those from Andrés Velasco at the Asofondos Congress, to opposing views of the government.
