For many Colombian workers, the pension is something that represents the possibility of retiring and being able to enjoy the savings achieved throughout the years. 1300 weeks that the State requires citizens to retire.
However, when the time comes to retire, the first thing that can come to mind is to find a way to properly manage those savings that will be enjoyed from the time the legal retirement age is reached. (62 years for men and 57 years for women).
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The pension is a responsibility, because despite the fact that there is no longer a job to worry about, it is true to say that a retired person stops receiving an average of 25% of their income.
Sandra Martínez, Consultant and Trainer in financial behavior for Positiva Compañía de Seguros, Advise people who are close to retiring to have their accounts as healthy as possible, that is, not have too many debts.
«When the retirement date approaches, it is best not to have many debts or major obligations, since income will decrease by 20 to 30 percent when retiring.»
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Likewise, citizens are required to have at least 1,300 active weeks in the labor market to access their pension.
Another piece of advice that the expert gives is to have a detailed personal budget in order to identify income and expenses in order to see if they can be adequately addressed. If not, It is important to have a culture of saving well cultivated in order to cover the percentage lost in income, or in case of an emergency.
“If they have hobbies or an activity to develop, this is a time when they can take advantage of the time to do it and it can become a new source of incomeMartinez added.
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Once the pension has been obtained, it is important to ensure that spending is controlled, that is, not to spend more than what is earned and to have control of the ‘ant expense’which are those expenses that may seem minimal but that, in the medium or long term, may be necessary.
“You should not forget to periodically review your pension statements, as well as your employment history, in order to know how your pension savings balance has been behaving”, concluded the expert.
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By following these tips, you will be able to enjoy your pension with the peace of mind of not having imbalances in your account and being able to live in retirement without major worries.
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