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Weekly Report - 20 June 2024 (WR-24-24)

Petro gets pension reform over the line in Colombia

Colombia’s President Gustavo Petro scored a major victory on 14 June when congress gave its final approval to his government’s pension reform bill. The legislation represents the first overhaul of the Colombian pension system since 1994, requiring higher earners to pay into the state pension fund, Colpensiones, and boosting pensions for lower earners. Millions of elderly Colombians who currently receive no pension would also receive a basic income, with additional measures aimed at addressing gender inequality in pension access. Petro’s victory may be short-lived, however – the right-wing opposition is asking the constitutional court to overturn the legislation on the grounds that it was not sufficiently scrutinised in the lower chamber of congress.

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