Osvaldo Macías reflects on his departure from the Pensions Superintendency

Osvaldo Macías, who led the Pensions Superintendency for ten years, spoke about his exit from the post in March and his role in the pension reform approved in 2025.

Macías was notified of his departure on March 13 by Labor Minister Tomás Rau. Joaquín Cortez took his place. The former superintendent said he had hoped to stay on to implement the reform, but accepted the decision based on presidential powers.

In the interview published on May 31, Macías expressed pride in the reform. He highlighted the Universal Guaranteed Pension approved in 2022 and the increase in individual savings. He stated the system will be better once implemented.

Macías noted pending issues such as analyzing a possible increase in the retirement age and strengthening the superintendency's corporate governance. He proposed forming an expert commission to study these topics.

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Illustration showing the suspension of a 25 trillion peso pension transfer by Colombia's State Council, with judges, documents, and concerned citizens.
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State council suspends transfer of 25 trillion pesos in pension reform

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The State Council provisionally suspended Decree 415 of 2026, which authorized the transfer of resources from private funds to Colpensiones. The measure affects 120,000 affiliates and completely freezes the transfer of nearly 25 trillion pesos.

The Superintendencia de Pensiones presented a proposal to replace the multifunds system with generational funds based on contributors' age. The change is part of the pension reform and aims to improve risk allocation over the life cycle.

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