To finance the pensions paid to Colombians, high-paid workers make a contribution to the so-called Pension Solidarity Fund (FSP), a special account of the Colombian State linked to the Ministry of Labor.

This money is intended to subsidize the pension contributions of population groups that due to their characteristics and socioeconomic conditions cannot make the full contribution in the contributory pillar, such as the self-employed, the unemployed, artists, athletes, people with disabilities, indigenous people, Afro-descendants, palenqueros and blacks, among others.

(You can also read: Pension reform: 9 out of 10 contributors, forced to be in Colpensiones)

In the draft of the pension reform that will be filed next week before Congress, it is established that the contribution discounted to workers of 4 minimum wages by the pension solidarity fund would rise from the current 1 percent to 2 percent.

In addition to this, it is established that the pensioners who earn an allowance between 10 and 20 minimum wages they will contribute 2 percent to the solidarity fund, and those who have more than 20 minimum wages will contribute 3 percent.

The Government expects to file the pension reform on March 22.


Andrea Moreno. TIME

Those who have more will contribute more

The project also indicates that people who will have an income greater than 16 minimum wages, close to the full salary for 2023 ($15,080,000), will have to make an additional contribution on top of their contribution base income.

This will be from 0.2 percent for those people who earn between 16 and 17 minimum wages; 0.3 percent for those between 17 and 18; 0.6 percent for those who receive between 18 and 19; 0.8 percent for those aged 19 and 20; and 1 percent for those over 20.