By Edwin Harold Giraldo Martinez
legal office
Fundación Universitaria Católica Lumen Gentium
An acquired right is part of all those assets that are already or must enter the patrimony of a person because some legal requirements established in Colombia have already been met, so they cannot be taken away since they are legitimized.
Regarding the pension, said right reflects all the effort that has been made for years of work thinking about future well-being, for which Law 100 of 1993 modified by National Law 797 of 2003 establishes the following requirements for the old-age pension :
Law 797 of 2003 in article 9 says that as of January 1, 2014 the age increases to fifty-seven (57) years of age for women and sixty-two (62) years of age for men. and that to retire you must have contributed 1,300 weeks”
What happens if more than 1300 weeks are quoted?
The more weeks you contribute, the higher your pension allowance will be.
In article 10, the regulations indicate that, starting in 2005, for every fifty (50) additional weeks to the minimum required, the percentage will increase by 1.5% of the base income for settlement, reaching a maximum amount of 80 and 70.5% of said income, in a decreasing manner depending on the level of contribution income.
Calculated based on the formula established in this article. The total value of the pension may not be greater than (80%) of the base settlement income, nor less than the minimum pension. All of this indicates that up to a maximum of 1800 weeks the aforementioned applies.
If more than 1800 weeks are quoted, will they return the additional money quoted?
Law 100 of 1993 in article 34 modified by law 797 of 2003 in its article 10 indicates that the base income of 80% of liquidation must not be exceeded, which is achieved by quoting the 1800 weeks, therefore, not summarily additional to what which has no reason to be, since it is not taken into account for this pension and really those additional ones would go to the pension of other users with acquired rights, therefore it is worth clarifying that this would be in terms of the public funds system, Since in the private sector, the more weeks contributed, the more that personal fund grows and possibly increases your pension.
Now, in the opposite case, we can add that a person who is already of age, but has weeks to go, must continue contributing month to month to complete the gaps in both the private and public regimes, according to the issue in the private sector, people can request the return of the quoted balance or also when the couple who also did not reach the quoted weeks is there, both may request to pool their contributions to achieve a single family pension.
Finally, in Colombia the percentage of pensioners is very low, due to different factors such as unemployment together with labor informality that makes it much more difficult to achieve this fundamental right for old age.
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