In the articles of the labor reforms It is contemplated that the allowances of people who will have income of more than three minimum wages will be lower, while people who earn four minimum wages or more, will have to make a more significant contribution to the Pension Solidarity Fund (FSP).

In the first case, the workers are obliged to enter the new system of pillars proposed by the reform, in which Colpensions will receive the contributions of all people who earn up to three minimum wages, while private funds will do the same with prices that exceed this range.

(For Fedesarrollo, the country must contribute to the vision of change).

This would eliminate the possibility that those earning more than three minimum wages freely decide that the total of their contributions go to the average premium regimewhich can mean that your allowances, when you retire, can be much less.

According to the AnifIt is highlighted the fact that it is sought that the maximum ceiling to contribute in the regime represented by Colpensiones has dropped from four to three minimum wages, but that, according to the economic study center, This is still very high, taking into account that 87% of the Colombian population today earns less than three minimum wages.

(‘The pension reform is a kind of tax reform in disguise.’)

The same project, in addition, establishes that the contribution discounted to workers of 4 minimum wages by the FSP would rise from 1 to 2%.

In addition to this, the articles explain that citizens who make contributions with income between 10 and 20 minimum wages that will make 2% for the solidarity fund. For their part, those who have more than 20 minimum wages will contribute 3%.

(Pension liabilities: new alert from Fedesarrollo).

Finally, the project would also make citizens with incomes greater than 16 minimum wages have to make an additional contribution on top of their contribution base income.

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