HE pension reform bill proposes the establishment of a solidarity pillar for all people over the age of 65 who have no economic means today, which will finally be filed on March 22.
(You can also read: This is what the pension reform project brings)
In total, the draft reform proposes 223,000 pesos of income to 2.5 million people. This income will be above the poverty line. It is also currently higher than the subsidy given by the Colombian Mayor program.
However, this is a lower amount than originally collected by the Government. The proposal was to give anyone who failed to receive a pension a basic income of half the current legal minimum wage.
The draft bill shows that the necessary conditions to receive this income are:
1. Become a Colombian citizen
2. Be at least 65 years old
3. Integrate extreme poverty, poverty and vulnerability group
4. Proof of residence in Colombian territory for at least 10 years immediately prior to the submission of the application for access to basic solidarity income.
In addition, the binding process Social Welfare Department (DPS) or Government-identified entity.
However, it was stated that Colombian Mayor beneficiaries who are not eligible to benefit from the solidarity column will continue to receive this program.
They will also be able to access if they fulfill the requirements of the solidarity pillar, but in no case will they benefit from both assistance at the same time.
In addition, there will be a semi-contributed column to generate income for those who have not retired but have weeks in their individual accounts with the Pension Fund Manager or who have savings in the Pension Fund.
This will apply to older adults over 65 who have contributed less than 150 to 1,000 weeks to the system and are eligible for the solidarity leg.
For this group of people, the benefit will consist of a lifetime annuity, which will be determined by different values, such as the value of the contributions.
Source: Exame
