Lights and shadows of the Colombian pension reform

Abstract

In Colombia, Law 2381 was approved in July 2024, which introduces a pension reform while maintaining the public COLPENSIONES fund and the private funds. The reform seeks to improve pensions for those earning between one and 2,3 minimum wages, but harms those with higher incomes, with significant losses in their pensions. In addition, the private funds obtain considerable benefits, which has generated controversy and doubts about the constitutionality of the law due to the lack of debate in the Senate.