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this Pension reformThe recently approved bill has been one of the reasons for division and analysis in the country in recent weeks.
Although this bill The impact mainly applies to natural persons, although some of the changes will affect companies.
(Lea: How pension reform will change retirement conditions).
Obviously, companies are involved, too, because ultimately, they are the ones whose workers can accumulate weeks of work and save for retirement.
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“Companies must be aware of these changes and receive training in order to best cope with the new pension structure that will apply to their workers. This measure not only fulfils the duty to provide adequate assistance to their staff, but also pays timely attention to their obligations.“, he claimed María Camila Ortiz, Legal Services Manager, KPMG.
(continue reading: Attention: News about pension reform bringing tax issues).
KPMG assures that among the effects that this reform will have for companies, some provisions are foreseeable; for example, facing a greater administrative burden due to the right to request recognition of pensions on behalf of workers or the possibility of deducting contributions from contractors’ fees.
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They also mentioned the need to strictly control pension contributions, as employers and/or contracting companies will have to pay the full amount of tax if they fail to comply; or the importance of reassessing and adapting to new rules in pension ex-jurisdictions, Given that people have multiple options for early access to pensions.
(Apart from: 3 out of 10 Colombians can retire early: these are the requirements).
Another impact mentioned by the Labor Market Observatory of the University of Rosario, one of the research centers analyzing the project on the reform of the general pension system, is the labor force, noting that this operation, in the long term, could affect data related to unemployment and informality.
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“This could lead to increased informality in the workforce, which would be counterproductive to reform objectives.”, the report stressed.
(we recommend: Pension reform: the pros and cons of moves to change the system).
This has led to different political actors proposing a consultative space to discuss solutions that benefit all actors in the country’s social and economic structure, as Angelica Lozano, Senator from the Green League.
“We need a space where the government, business, trade unions and civil society can sit down and work together to bring about reforms that truly meet the country’s needs and guarantee the sustainability of the pension system.“, he claimed.
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