Government will launch initiative to benefit those who fail to retire

Is about Periodic Economic Benefits (BEPS) which is currently a voluntary savings program run by COLPENSIONES and works only for people who intend to withdraw their savings when they reach retirement age.

Currently, when the person who saves in this program reaches pension age (57 years for women and 62 years for men), You can convert what you save into an income that you receive every 2 months for your entire life.

This decree intends that since October of this year, those who do not manage to retire because they do not meet any requirement, have the option to ask for their money back or enter BEPS.

However, those who ask for their money back, they have 6 months to retract or automatically enter BEPS.

Recall that at this time BEPS it’s not a pensionbut if it is a payment for life and It is done up to 850,000 pesos bimonthlywhich currently represents 85% of a minimum wage.

The idea would be provide advice by COLPENSIONES, and the lender will be given an additional 20% subsidy on the total money saved.

In addition, the people who apply must be contacted directly by COLPENSIONES, regardless of the pension fund in which they are, and it is not an obligation to accept this bonus, whoever wants to return the money saved, You have 6 months to express it.

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