Jaime Dussán, current president of Colpensiones, explained, this Saturday, December 24, the objective that the National Government has with the pension system Colombia and what would be done with the resources they have from savings.

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

The first thing I make clear is that The pension reform will take place in 2023 and would be focused on consolidating a single system for the country.

He also said that they will look for a transition regime so that more people are listed in Colpensiones.

Faced with the latter, he commented that they are devising a campaign to call the attention of those who start working life so that they decide on Colpensiones: «Look for the best alternative for your pension in the entity and understand that your future is in Colpensiones«.

(See: They approve a budget for 1.6 million members of Colpensiones).

Dussán also spoke of the use that will be given to pension savings of Colombians and I affirm that will be invested in social works and in infrastructure, such as the train between Buenaventura and Barranquilla.

And he stated that Colpensiones could be, in the future, a bank: «First and second tier banking, in such a way that it gives us the possibility of making investments that will be much more profitable compared to maintaining banks that definitely do not provide benefits«.

Dussán’s words did not go unnoticed and generated various reactions.

(See: Points on which the Ministry of Finance disagrees with the pension reform).

Juan Carlos Echeverry, He is 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.«.

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«.

(See: Pensions: what is the best age to save for retirement?).