Colombian Senate approves President Petro's pension reform, shifting 70% of worker contributions to government control.
Colombian Senate approves President Gustavo Petro's pension reform, making the government manager of 70% of worker contributions with private pension funds receiving the rest. The reform includes a central bank-managed savings fund for future pension compensation, expected to accumulate $320bn by 2052. This victory comes amidst Petro's unpopularity, with a recent poll revealing 60% disapproval.
April 24, 2024
3 Articles