Colpensiones: criticism for the use that would be given to pension savings, according to Jaime Dussán | jubilation | my finances

In full December 24, Jaime Dussan, President of Colpensions, He spoke about the pension reform in the country and about the resources of the system.

(See: Pension savings would be used to make the Buenaventura – Barranquilla train).

He confirmed that the reform was carried out in 2023 and, among other things, gave a statement on the use of pension savings, which has generated much controversy.

Specifically, he said, first, that the changes that are planned to be made would be focused on creating a single pension system for the country, looking for a transition regime so that more people contribute to Colpensiones; and, second, that that money from savings would be used in social and infrastructure works, «like the train between Buenaventura and Barranquilla«.

(See: What Petro thinks about raising the pension age in Colombia).

Juan Carlos Echeverry, Former Minister of Finance and former candidate for the Presidency of the Republic, questioned the director of Colpensiones and asked on Twitter: «What gives Mr. Dussán the right to waste everyone’s savings?»

And he added: «Invest my 40-year pension savings in a train between Buenaventura and Barranquilla, impossible to build and with negative profitability? That is equivalent to throwing our savings down the drain.«.

(See: Pension reform: will the retirement age increase in Colombia?).

Daniel Briceno, a lawyer specializing in Public Law and a master’s degree in Political and Electoral Analysis, said, on the same social network, that the president of Colpensiones «announces that the pension savings of Colombians are going to be expropriated to spend them on the elevated train project from Buenaventura to the Caribbean Coast, which the Government itself has already said is unfeasible«.

Sergio Guzman, Director of Risk Colombia, wrote on his Twitter account «It was a mistake to name this subject in charge of Colpensiones. Pension savings cannot be used for public spending«.

Rafael Nieto Loaiza, said that the proposal «It is outrageous, irresponsible and not very serious. ! Pension contributions are not government money but savings from the contributors!«.

Jose Miguel Santamaria Uribe, of the National Salvation Movement, argued that it was not”Dussán does not know that Colpensiones does not have a portfolio or resources. In fact, more than 40 billion annually come out of the national budget to pay the allowances«.

(See: Learn how to increase the fixed monthly amount you will receive at retirement.)

And Kevin Hartman, co-founder of Juntos Colombia, said that what Dussán said it is unconstitutional.

«It speaks ill of the Government to have appointed someone who has more desire for leadership than an idea about the Colombian pension system«, he added.