Pensions
Assembly definitively adopts Social Security budget for 2026
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The National Assembly adopted the Social Security Financing Bill for 2026 on Tuesday, by 247 votes to 232, marking the first budget validation without using Article 49.3 since 2022. The text includes the suspension of the 2023 pension reform, secured through compromises with the Socialist Party. Prime Minister Sébastien Lecornu's government hails this hard-won victory.
National Assembly Speaker Moses Wetang’ula has warned MPs that around 56% of them may not return to Parliament after the 2027 general elections due to political attrition. Speaking at a legislative retreat in Naivasha, he criticized parliamentary committees for harassing government officials and urged members to plan their pensions. He emphasized leaving a positive legacy through better laws and oversight.
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Severance savings in Colombia's pension funds reached $26.1 trillion by the end of 2025, a 17% increase from 2024. This figure accounts for the accumulated savings of 10.8 million affiliates to four main funds. Total withdrawals amounted to $11.7 trillion, up 9.4%.
President Gustavo Petro pushes for repatriating about 250 trillion pesos invested abroad by pension funds, criticizing the economic model since the 1990s. The proposal has reignited debates with figures like Enrique Peñalosa and raised technical warnings from experts like Mónica Higuera. Petro argues that workers' savings should create local jobs rather than benefiting foreign economies.
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As 2026 begins, several benefits will take effect in Chile, including a higher minimum wage and increased pensions to support workers and retirees. These measures aim to ease financial burdens for millions amid economic shifts.
The Supreme Court of Justice of the Nation (SCJN) declared unconstitutional an IMSS regulation provision that limited death pensions only to direct ascendant family members. Now, individuals who demonstrated a caregiving relationship with the deceased worker can also access the benefit. This decision stems from a case where an aunt who raised the insured was initially rejected.
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The Superintendency of Pensions has opened a public consultation for a new regulation allowing Pension Fund Administrators (AFPs) to subcontract most of their functions, except investment management. This step aims to boost competition in the pension sector and ease entry for new players. AFPs will retain full responsibility for outsourced services.
Surnames M to R receive Bienestar Pension payments from January 19 to 23
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