Pension reforms and social security updates in Argentina and Colombia

In Argentina, Decree 824 has been issued regarding the national social security system. The decree addresses the Integrated Pension System (SIPA) and the Universal Pension for the Elderly (PUAM). It notes that previous mobility formulas, specifically Law 27.609, failed to adequately protect retirees against inflationary risks and created a gap between economic variables and pension benefits, particularly impacting low-income pensioners.

In Colombia, the Constitutional Court has declared the majority of Law 2381 of 2024 constitutional, delaying its implementation until April 1, 2027. The reform introduces a solidarity pillar aimed at providing a basic income to over 3 million impoverished elderly citizens without a contributory history. This benefit is expected to provide approximately 230,000 pesos monthly, though it is classified as an assistance measure rather than a formal pension right, as it is not indexed to the minimum wage and depends on annual budget availability.