Changes in the pension system: Rules for transferring from RAIS to Colpensiones

This decree regulates the transfer of resources between pension regimes in Colombia, specifically from the Individual Savings with Solidarity Regime (RAIS) to the Defined Benefit Pay-As-You-Go Regime (Colpensiones), according to Article 76 of Law 2381 of 2024.

Who does it apply to?

Individuals affiliated with RAIS who have at least 750 weeks of contributions (women) or 900 weeks (men), and less than 10 years to consolidate their pension rights.
Allows voluntary transfer to the most favorable regime, after receiving double advisory.

What does it regulate?

Establishes the procedure and deadlines for transferring accumulated resources from individual accounts of affiliates moving to Colpensiones.
The transfer includes both the capital and financial returns generated up to the date of transfer.
Resources may be in cash, TES class B, and other debt securities permitted by Colpensiones’ investment regime.

Deadlines:

For those who have not consolidated their pension rights: AFPs must transfer 50% of the resources within 20 days and the remaining 50% within the next 10 days.
For those who have already consolidated their pension rights: AFPs must transfer all resources within 15 days.

Importance:

Ensures the financial sustainability of the pension system and protects affiliates’ rights.
Allows affiliates to receive all economic benefits under Colpensiones’ solidarity scheme.

Supervision: The Financial Superintendence of Colombia will strictly monitor compliance with these transfers.

Validity: The decree is effective from its publication and repeals any previous provisions that contradict it.