Requirements to claim Pension Bonus: Everything that you have not been told

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All workers who are affiliated with the General Pension System of Colombia they have a great benefit: the pension bonus. Through this, the pension regime of Colombians can be secured easily and bluntly.

Next we will show you which are the requirements for pension bonus, what is this, the types that apply and other information that we are sure no one has told you.

What is a pension bond

A pension bonus It is that security that recognizes the weeks listed within the public system. It allows affiliates to switch to the private regime within the AFPs of Colombia.

The pension is the interest that accumulates during the years that a worker is working in the public or private sector. It is the guarantee that allows that, by the time the retirement arrives, the holder can have savings that support his life after his working time.

People who have contributed for at least three years (or 150 weeks) within the Medium Premium Regime or who have worked in the public and private sectors in a pension-recognizing entity will be able to collect their pension bonus.

It is expressed in pesos, and is added solely and exclusively to what you already have accumulated within the payment of your pension and all returns that this saving has generated during the time it has existed.

The function of a pension bonus is to integrate or increase the amount of capital that corresponds to the individual savings account of each future pensioner. This way you can be sure that enough resources are created when your retirement time comes.

How to get a pension bonus

For get a pension bonus You must communicate with the issuing entities of the same. These are the ones obliged to liquidate and issue the pension bonus, and among them are Colpensiones, public and private employers and the State itself, depending on your case.

If an affiliate has dedicated himself to making contributions to this type of entity, the pension bonus will be obtained through these.

In addition, the worker has the right that the rest of the entities for which he has contributed make the contributions of the portion that corresponds to them according to the time that he has contributed. The latter is usually called a share fee.

Requirements to claim pension bonus

The requirements to claim pension bonus with which any affiliate who wishes to obtain it must comply are those that we will show below:

  • Have quoted at least 150 weeks continuous or interrupted. This must be considered within all social security fund funds.
  • To have 60 years if you are a woman and 62 years If you are a man, to start collecting it.
  • Being part of an entity or company that assumes the payment of their pensions from the date established by law, which is the December 23, 1993.
  • Having worked in one or more public entities where the members did not make the corresponding pension contributions.
  • If the owner dies or becomes invalid or incapacitated, those responsible must be in charge of delivering the documents that prove said conditions.
  • That your employment history has been issued without errors or inconsistencies.
  • Have signed the certificate in which you declare that the information in your employment history is correct. You must also include your signature on an issuance authorization and finally, a copy of your current identity document.

To collect the pension bonus you must do it through of the Mandatory Pension Fund in which you are affiliated. Once you meet all the requirements to claim pension bonus mentioned before you can start receiving it without problems.

Important! If a person from the private regime wishes to move to the public regime, instead of applying for the pension bonus, this change is applied by transferring the balance of contributions.

Types of bonds

It may seem complicated, but depending on the case you may realize that there are different types of pension bonds that you can claim once the time comes. These are the five types of bonds what’s in there for future retirees of Colombia:

  1. Bond Type A: It is the one granted when a worker goes from Colpensiones to an Individual Savings Scheme within an AFP.
  2. Type B Bond: this type of bonus is granted to any public official who wishes to transfer to the Medium Premium Regime with Defined Benefit within the Individual Savings with Solidarity system.
  3. The Type C Bond: It is that pension bonus that is granted to those workers who join the Congress Provident Fund. This as long as the change was made after the March 31, 1994.
  4. Type E Bond: to continue, there is the type E voucher, which allows people who have served for the RPM to transfer or join Ecopetrol.
  5. Type T Bond: he is unique to the RPM workers. It seeks to cover the differences that exist within the legal regimes that apply to public workers whose cycle began before establishing the general pension system.

What is the redemption of the pension bonus

The redemption of the pension bond isIn short, the process by which capital savings for pension benefits are delivered to workers for various reasons. This delivery is made through the AFP and occurs in two classifications:

  • Early redemption. This, in turn, is granted when the member dies or is disabled or disabled to continue with their tasks. It also occurs in the event that a refund of old-age balances must be made.
  • The normal redemption. In this case, the most distant date should be taken as a reference within the following options:
    • That the affiliate has 60 years, if you are a woman, or 62 years, if you are a man.
    • When they already passed 500 weeks after the cut-off date.
    • If by the date established by law (April 1, 1994) the worker had more than 50 years, in case of being a woman, or more than 55 years, in case of being a man.
    • By the date they are completed 000 weeks of the permitted employment relationship.

Characteristics

The features The main benefits of the pension bonus can be summarized as follows:

  • Serve as a kind of future-dated check or promissory note payable to the affiliate.
  • It is expressed in pesos.
  • It can only be used to be consigned in the individual savings account of each worker, adding to the money that is already accumulated by the time the pension is paid.
  • It is earning interest from the moment the transfer is made to the Compulsory Pension Fund and until the moment each entity pays the bond.
  • It is widely related to employment history. This is due to the fact that the document allows registering the time contributed and the salary reported for the pension for Colpensiones or the public fund before it is transferred to the Compulsory Pension Fund. In summary, thanks to it the entities will know the money they must pay for the pension bonus in due course.

Request for the pension bonus

The application for the pension bonus of any worker of the public or private regime must be carried out with

We describe below:

  1. Look for the application for your certificates or employment history to be issued so that it is recognized by the entities. This must be done in conjunction with the physical file of the DHR and the SIRH.
  2. Sign the certificates and employment records and deliver them to the person in charge within the entity. In this way it is certified that you agree with all the information given, and that you have checked that it is correct.
  3. File the certificates and the rest of the requirements in the AFP that corresponds to you for that the information is verified.
  4. Enter the website of Treasury. There you must look for the settlement of the bond and its value for the cut-off date, information that you must confirm or correct.
  5. Wait for the corrections of the information to be returned to you for the provisional liquidation of having to do them.
  6. Check the dates available for the payment of the pension bonds depending on the budget of the entity.
  7. Depending on your type of bond, your employment history is presented to the Pension Bonds Office or your corresponding entity to complete the issue.
  8. Ready! Once you pass through the office, the processing of the application for the pension bonus It will have been completed and you will have the opportunity to collect it once the time comes. The answer will come to you depending on your AFP, so stay tuned.

Regardless of the reason why it is needed, once it is time to start collecting the pension bonus, we want to do it as soon as possible to have our rest days covered.

Gradually integrating the capital that corresponds to you for your years of service in your individual savings account, financing your pension and collecting it when necessary. It all sounds wonderful, and you can solve it soon by completing the requirements for pension bonus in Colombia as we explained before.

Success!

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