It is logical that you want to spend the golden years that follow retirement in the best possible financial conditions. This can be achieved through voluntary contribution for social security purposes, known simply as voluntary pension savings. Therefore, we dedicate this content to indicate what this form of saving consists of.

Is there voluntary pension savings in Colombia?


Colombia needs a reform of the pension system. This reform must aim to solve the problems of lack of coverage, the high inequality of the system, the potential risks of fiscal sustainability given the demographic transition, the unequal competition between the average premium regime (RPM) and the savings regime individual with solidarity (RAIS) and the improvement of the functioning of the institutions related to the pension system.

With the current system by 2050, only 18.8% of adults aged 60 and over have a contributory pension, leaving 12 million Colombians without a pension

The AFPs allow voluntary contributions to the pension funds, with one of the following purposes:

  • To have additional capital at the time of retirement, you can even use to improve your pension.
  • In order to make an investment of money in the medium or long term.

While this system is developing …


Voluntary pensions , in Colombia, are a form of voluntary savings that gives a linked or independent worker the possibility of complementing the mandatory pension, obtained during his working life. The worker makes periodic contributions to a Pension and Severance Fund that manages the resources through investment portfolios with different levels of risk and profitability.

Additional savings when your retirement occurs


As an additional contribution you make to the pension fund, to have additional savings when your retirement occurs.

Surely you wonder what advantage this saving has in an AFP instead of the common savings instruments. There are three characteristics that make the AFP option the best, namely:

  • By saving in the AFP you get the legal certainty that your saved capital cannot be seized.
  • The contributions you make are exempt from the income tax payment, which implies other indirect savings.
  • Your contributions are not subject to a minimum amount of contribution or set deadlines, like other savings instruments.

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