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Conservative Party Stands Firm on Pension Reform: Five Key Points Outlined for Protecting Colombians' Rights

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María Alejandra Trujillo
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Conservative party logo <br> Image Credit: Wikipedia
Following the Conservative Party's meeting, the group has outlined its position on pension reform. Through social media, they presented five key points aimed at safeguarding the right of Colombians to a dignified pension. This announcement was made in the afternoon of May 31.
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During their analysis of the project, the congressmen identified key concerns and established five "blue lines" in relation to the government's proposed pension reform. One of these lines is that the transition regime should require 780 weeks of contributions instead of the proposed 1,000 weeks. Additionally, they advocate for allowing women at the age of 35 and men over 40 to benefit from this regime.

Protection of Contributors' Resources Key Focus for Conservative Party in Pension Reform

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Another important aspect for the congressmen is ensuring the protection of all contributors' resources, so that pension savings do not become a burden. To achieve this, they propose strengthening the technical committee independently, in order to guarantee the security and integrity of the funds.
The congressmen also put forward two additional points regarding the pension reform. The third point suggests that contributors who do not meet the required weeks for retirement should have the option to choose between receiving a refund of their contributions or a life annuity, which should not be lower than the value of the solidarity pillar.
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The fourth point emphasizes that any fines imposed for pension non-compliance should be exclusively directed towards ensuring the protection of the most vulnerable elderly individuals, amounting to approximately $250 billion annually.
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Lastly, they propose that if the reform is approved, it should take effect from 2026 instead of 2025, as originally proposed in the project. This adjustment aims to provide peace of mind to all parties involved, as expressed by the community's president, Efrain Cepeda.

Adjusting the Timeline: Conservative Party Advocates for Delay in Pension Reform Implementation

The following week, the Conservative Party plans to convene once more to reach a final decision based on the Government's response to these objections.
Following President Petro's decision to terminate the coalition with the Conservative Party, the U Party, and the Liberals, the Conservative Party has declared its independence before the government’s proposals.
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