Blog de la facultad de Derecho

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10 de diciembre de 2014

Reforma del Régimen Regulatorio de los Fondos de Pensiones Obligatorio: Una Normatividad Sin Soluciones de Fondo

This paper deals with the reform of the Colombian Pension Funds. Law 1328 of 2009 introduced the “Multifunds” system, a mechanism by which all AFP members have at least three pension funds at their disposal, enabling their members to choose where to invest their social security savings.

Por: Ángela María Trujillo Merchán

Abstract:

This paper deals with the reform of the Colombian Pension Funds. Law 1328 of 2009 introduced the “Multifunds” system, a mechanism by which all AFP members have at least three pension funds at their disposal, enabling their members to choose where to invest their social security savings. Prior to this reform, the Colombian AFPs offered only one type of pension fund. The author considers that this reform is incomplete. As the Colombian financial markets are underdeveloped, the AFPs will not have at their disposal the different financial assets needed to secure the expected yield in the long term. This may undermine the AFPs performance in the long run.

Palabras clave:

Fondos de Pensiones Obligatorio, Reforma Pensional, Ley 100 de 1993, Ley 1328 de 2009, Multifondos, Mercado de Valores, Inversionistas Institucionales, Reforma Financiera.

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