US EditionBank of the Republic Warned that Transferring Savings to Collpensions Is Not in Law
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The Bank of the Republic alerted the Ministry of Labour to the draft decree with which the government seeks to transfer to Colpensions the individual savings of the affiliates who decided to avail themselves of the “transfer window” of the pension reform. In response, the Ministries of Finance and Labour and Collpensions dismissed the warnings. The Bank’s warning. The government’s decision would be illegal. “The advance transfer of resources to …
Transferring private savings to Collpenses exceeds the powers of the Petro government: BanRep. Photo: Valora Analitik / Presidencia A new warning came out to Gustavo Petro's government's proposal to move pension savings to Collpensions. This time it came from the Bank of the Republic, which sent to the Ministry of Labour its comments on the draft decree. In five points of the communiqué, dated March 11, the entity pointed out that: “The advance …
The Issuer said that until the pension reform that remains in a legal limbo is approved, they will have to be governed by the current regulations.
The Issuer made it clear that early transfer with the window of opportunity is not authorized by law.
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