The Six Recommendations Made by Private Funds for the Pension Reform

Labor attorney Camilo Cuervo was quoted in a La República article about the recommendations of private funds for the pension reform in Colombia. At the Asofondos Congress, the president of the union, Miguel Largacha, presented six key recommendations: a savings-based system, a minimum wage threshold, a Public Savings Fund that grows over time, respect for the property of current savings, guarantee of operability and sustainability for all actors. Mr. Cuervo noted that savings should remain well-cared for so that the government can focus subsidies on those who really need them.

"Pensions depend on people having jobs that allow them to save and contribute. If I expand coverage without an economic support, the only thing I do is delay a generational problem," he said.

READ: The Six Recommendations Made by Private Funds for the Pension Reform