Colombia pension window closes after 166,000 workers switch regimes

The exceptional pension‑transfer window introduced by Colombia’s 2024 pension reform closed on 16 July 2024. For two years it allowed workers nearing retirement to move between private pension funds and the public Colpensiones system under Article 76 of Law 2381.

Asofondos reported that more than 166,000 workers used the mechanism, with over 237,000 double‑advisory sessions and an average of 7,000 transfer requests per month. Most transfers went to the public regime, which benefits only about 5 % of high‑income workers, while Asofondos said nine out of ten workers are better off in a private fund.

Although the window is now closed, a limited group of workers retains the right to transfer under the longstanding provisions of Law 100. Legal debates continue over the disposition of resources from transferred accounts and the constitutionality of certain pension‑reform provisions.