The pension it is a legal right that every worker has. You want to know more? Keep reading!
What is the pension?
It can be said that the pension, se is effective in a monetary payment, on a monthly basis.
The worker, during his work time makes a monthly contribution to the State, of the salary earned.
With these monthly quotes together with the employer’s contribution; he is accumulating the necessary amount of money; so that when for various reasons you cannot continue working, you are protected by a lifetime pension.
What is Colpensiones?
In Colombia Colpensiones, is the Colombian Pension Administrator.
It is the institution in charge of administer and ensure that the citizens covered by the Solidarity Scheme of Average Premium with Defined Benefit; enjoy the pension when they meet the required requirements
Colpensions is linked to the Ministry of Labor.
What is Law 100 of 1.993?
It is the law that contemplates the legal framework of social security of the Colombian citizen, including the General System and Pensions.
Modalities for obtaining a pension.
In Colombia there are various ways to obtain a pension:
- Old age pension. It is the pension that a worker obtains when he turns 57 if he is a woman and 62 years old if he is a man, and has contributed during his working life
- As well as, the Disability pension. It is the pension to which a worker is entitled who has been evaluated by a doctor and is considered invalid. This category includes a person who has lost more than 50% of their ability to work.
- Survivor pension. In the pension that is assigned to a relative of a person who has died and was a pensioner due to old age or disability.
What are the regimes in Colombia to obtain a pension?
exist two types of regimes in Colombia to get the pension.
1.- The Solidarity Regime of Average Premium with Defined Benefit.
It is the regime of General Pension System that directs the State, through Colpensiones.
By this regimen the person has to contribute for approximately 25 years and your monthly contribution enters a common fund, thus ensuring, once the requirements are met, to be able to enjoy your pension throughout your life.
2.- The Individual Savings Regime Solidario (RAIS), or Private Pension Funds.
It is the Regime of the General Pension System which is treated by private funds; each person saves to have their own pension.
The contribution made by the affiliate goes to a private fund. But not everything is going to increase the capital, a part of it is allocated monthly to pay the insurance fees, management and commissions of the fund.
This regimen is very expensive and is recommended only for women persons who have a high income. On the positive side, these people pay less taxes and retire faster.
Retire in Colombia What are the requirements?
The Requirements to Retire in Colombia they depend on the modality and the pension scheme.
1.- In this order of ideas, we can mention the old-age pension.
1.1.- We then have the Average Premium Solidarity Scheme with Defined Performance.
- To have 1,300 weeks of quotation.
- Yes it is woman being 57 years old, if you are a man, be 62 years old.
- Attend a Colpensiones Care Center, personally or through an attorney.
- Photocopy of the Citizenship card.
- Work History record the number of weeks contributed.
- The Unique Form of Application for Economic Benefit. Duly filled out with the information there. You can download it on the Colpensiones website or request it at the Center.
- If the process is carried out by the lawyer, must present the authenticated power of attorney, with its identification.
- Once the required documents are delivered, Colpension will analyze the documents presented and has a deadline of about 2 months, to give an answer.
- If the application is rejected, the person can, within 10 business days, file an appeal for reversal.
1.2.- As well as, the RAIS, Individual Solidarity Savings Scheme.
- In this case Age does not matter.
- Gather the capital suitable to cover the pension, minimum 110% of the legal minimum salary.
- The procedure is done by the private fund in which it is being traded.
- Present pension application.
- Photocopy of the extended citizenship card.
- Delivered the documents, are evaluated by the private fund, you will be informed of the decision.
- If the request is denied, the affected person can make a complaint and claim the reimbursement of the contributions made.
- If the accumulated capital requirement is not met and the applicant is already 57 years old if he is a woman or 62 if he is a man; You can opt for a minimum guarantee pension, with 1,150 weeks of contributions.
- In this case you will receive monthly a legal minimum wage.
2.- Then, the Disability Pension
2.1.- Within this, Defined Benefit, the Solidarity Scheme of Average Premium.
- If it is less than 20 years must have a minimum of 20 weeks quoted. Over 20 years of age, a minimum of 50 weeks of contributions, before the declaration of invalidity.
- If the 75% to qualify for the old-age pension, must have contributed 25 continuous weeks, in the last 3 years before the declaration of invalidity.
- Attend a Colpensions Care Center, personally or through an attorney.
- Unique Economic Benefit Request Form. You can download it on the Colpensiones website or request it at the center.
- Present Certificate issued by occupational medicine Colpensiones, which endorses the disability and the reason for it.
- Enlarged photocopy of the Citizenship Certificate.
- If the process is carried out by the lawyer, authenticated power of attorney and documentation thereof.
- From applicant, Birth Certificate is required.
- Departure from original baptism From applicant.
- Delivered the documents and the requirements fulfilled, Colpensiones will carry out the evaluation of the same and will present information in a period of less than 4 months.
2.2.- And, the Regime of Individual Solidarity Savings.
- Go to the office of the private pension fund.
- Present a medical certificate that endorses the disability, indicating the reason for it. Issued by the medical board of the insurance company
- Once the requirements are fulfilled, the evaluation of the same will be carried out and the response will be issued.
3.- Also, the Pension for survivors
3.1.- The Solidarity Regime with Average Premium with Defined Benefit,
a.- Family members considered to collect a pension of survivors are:
- Spouse or permanent companion.
- Sons minors (under 18 years old).
- Between 18 and 25 years old, students and financial dependents of the deceased.
- Invalid or disabled, of any age and financially dependent on the deceased.
- Parents and what manifest dependency economical of the deceased.
- If there are no previous relatives, Invalid and financially dependent siblings of the deceased
- To carry out the procedures must go to a personal Colpensions Care Center or through a lawyer, and present the following documentation
- They are general requirements for any of the applicant relatives:
- That the deceased person has contributed a minimum of 50 weeks in the last 3 years before his death.
- Fill the Unique Benefit Request Form Economical. You can download it on the Colpensiones website or request it at the center.
- Death certificate of the deceased.
If the procedure is done by a lawyer, authenticated power of attorney and documents thereof.
b.- If it is the permanent companion or your spouse.
- Of the applicant, deliver the copy of birth certificate.
- Copy of citizenship document From applicant.
- Copy of the departure or civil registration marriage or affidavit of coexistence.
- If they exist children under 18 years of age, civil registration of birth of the same.
c.- In the event that it is carried out for children over 18 years of age will require.
- Copy of applicant’s citizenship document.
- Student certificate From applicant.
- Dependency statement economic of the deceased
- If it is invalid proof of disability.
d.- If they are the parents.
- Parents’ citizenship document.
- Manifestation of financial dependence of the deceased.
e.- Or, if they are the invalid brothers.
- Declaration of invalidity.
- Manifestation of financial dependence of the deceased.
3.2.- The Regime of Individual Solidarity Savings.
To do the procedures and request a pension for survivors must attend the Private Pension Fund and present:
- Pension application form.
- Death certificate.
- Documents that demonstrate affiliation with the deceased.
- If there are invalid children proof of disability.
What benefits does the pension offer in Colombia?
Contributing annually to qualify for a pension, offers benefits to the affiliate; because it is protected and economically protected, receive your monthly payment when you cannot continue working. This protection is for life.
In the case of the death of the member, the protection and economic protection for the family.
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