Colombian pension reform confronted strict equity and coverage problems after the 30-year validity of 100/1993 Law. Therefore, new grant rules (2381/2024 Law), published on 16th July and in force from 1st July 2025, search for resolving inequities in an integral system administrated by Colpensiones. 

In a certain way, these modifications pretend to create a higher access to this subsidy, which can turn into lifelong. Next, the different pillars on this reform: 

  1. Solidarity Pillar: For people in extreme poverty or vulnerability. It offers people over the age of 60 (women) and 65 (men) who have lived in Colombia for at least 10 years, a basic pension for life. 
  2. Semi-contributory pillar: Benefits are available to those who have between 300 and 1000 weeks of social security contributions. It is financed by individual contributions and the national budget. It guarantees a pension for life. 
  3. Contributory Pillar: Combines the average contributions and individual savings schemes. Contributions up to 2.3 minimum wages are managed by Colpensiones; the excess goes to private funds. 
  4. Voluntary savings pillar: Allows additional contributions to improve future retirement benefits. This option is for people who earn more than 2,3 minimum salaries (considering that Colombia’s minimum wage is 310,5 euros). This parameter won’t be applied to the other three pillars. 

Requirements to access the payment are those women with, at least, a 750-week contribution, whereas for men is mandatory a minimum of 900-week contribution. So, the reform retains the current age requirements, 57 for women and 62 for men, and 1300 weeks of contributions (25 years) for the medium contribution regime. 

Accounting, payroll and tax management in Colombia may result complicated in some moments. That’s why you can’t doubt on contacting Auxadi to resolve your issues. 

Can Auxadi help?

Auxadi can become your ideal partner. We offer a one stop shop value added outsourcing services in the areas of accounting and reporting, tax compliance, payroll management and representation services, among others.

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All information contained in this publication is up to date on 2024. This content has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice.No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this content, and, to the extent permitted by law, AUXADI does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.