🗞️ A major reform passed through the legislature this week: the Pension Reform Bill, already passed by the Senate, was approved by the House of Representatives without debate or amendment.
The new law seeks to strengthen the public pension fund, Colpensiones, through compulsory contributions from all workers - and thus improve old age pension coverage, which currently stands at fewer than one in four people of retirement age.
Those who have lived in poverty or worked in the informal sector will be included and able to receive subsidies under the new system. The reform will also eliminate competition between public and private funds, creating a joint system in which the two complement one another.
Retirement age remains unchanged: 62 years old for men and 57 for women.
The law will come into force in July 2025, though hard-right senators have announced a plan to go to the Constitutional Court to challenge the bill, due to its having passed without debate.
🗞️ Despite finally gaining some traction with his reform agenda, President Gustavo Petro’s approval ratings have sunk to 38% - according to the latest Polimétrica Survey. 61% of those polled also disapproved of Petro’s proposal for a Constituent Assembly.
Vice President Francia Márquez has an approval rating of just 29%; her disapproval rating stands at 56%.
🗞️ Meanwhile, the man who narrowly lost the presidency to Petro, running on an anti-corruption ticket, has been sentenced to 64 months in prison - for corruption.
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