Although the main objective of layoffs is to protect the member in the event of becoming unemployed or unemployed, Colombian law allows allocating this savings to purchase a home.
(True or false? The most common myths about layoffs).
The worker can make a partial or total withdrawal of the layoffs to be invested in the acquisition or improvement of his home, payment of the property tax or the payment of a mortgage loan.
According to figures from Future, During 2022, for this concept, the fund made disbursements for $1.18 trillion, registering a decrease of 0.2% compared to 2021 when withdrawals totaled $1.19 trillion.
This is what you need to know to start the process of withdrawing severance pay for housing.
-Identification document and photocopy enlarged to 150%.
-Promise of sale, signed by you and the seller, authenticated by a Notary (if applicable) in case it is for a new home.
-Certificate of freedom and tradition of the house or lot to be acquired (if used).
-Credit approval letter (if applicable).
-Partial withdrawal authorization letter signed by the worker (which includes the signature, name and position of the person who validates this procedure) which must contain the following information:
1. Full name of the member and/or his spouse or partner or permanent partner and identification document number.
2. Authorized value of partial withdrawal of the dismissal resources.
3.Indicate the use that will be given to layoffs. Example: Buying a house
How much can you withdraw?
There is no set withdrawal percentage. The worker can make a partial or total withdrawal of the balance of his layoffs to invest them in the acquisition or improvement of his home, payment of the property tax or to make payments to the mortgage loan.
(Severance interest: when and how is it paid?).
Affiliates can withdraw their layoffs to finance their own home, but it is important to bear in mind that this benefit is exclusive to the worker, their spouse or permanent partner. The foregoing does not apply to the affiliate’s parents, siblings or other relatives.
An independent worker can withdraw severance pay directly to the Severance Fund to which he is linked, requesting partial or total resources and presenting his identity document.
Layoffs can be withdrawn to purchase housing, land or lots. It is important to take into account that in the Porvenir Pension and Severance Fund this withdrawal procedure can be done completely online, through the different electronic channels available.
(Balance of severance withdrawals in Porvenir for home purchase).
Erik Moncada, Vice President of Clients and Operations at the Porvenir Pension and Severance Fund, said that “We will continue to work on financial education strategies that will allow affiliates to make the right decisions regarding the resources saved in layoffs. Also, it is important that affiliates remember that, for the disbursement of layoffs, they do not require processors or third parties and if they can make use of the virtual service channels that the Fund has, which are free and safe «.