INSUBCONTINENT EXCLUSIVE:
fast-tracked approval underscored the urgency to enact the reform before the legislative deadline.Had they delayed, the bill would have
collapsed, necessitating a restart of the entire legislative process.This reform signifies more than a bureaucratic update; it heralds a
pivotal shift towards social equity.Slated to take effect in July 2025, the reform introduces significant changes.For instance, workers will
Pension Overhaul: A New Dawn
contribution period for women by 25 weeks, targeting 1,000 weeks by 2036.It introduces a lifetime pension for over-65s with 150-999 weeks of
financial straits by offering them a semblance of security in their later years.This overhaul is crucial as it constructs a safety net for
commitment to inclusivity and support for the extremely poor and vulnerable.Ultimately, Colombia is not merely revising its pension scheme;
it is rewriting the social contract.This reform fosters a system where economic security in old age is a right, not a privilege.By doing so,
it marks a significant step towards a more equitable society, showcasing the transformative power of proactive governance.
