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COLOMBIA: Top Court to Consider Challenge to Petro’s Pension Reform Law

COLOMBIA
  • According to a published document, the constitutional court will begin to study a legal challenge seeking to overturn the government-promoted pension reform, which was approved by congress in June. The document, which was filed by an opposition senator, claims the lower house violated constitutional rules by accepting the text approved by the senate without debating it.
  • Worth noting this was sanctioned by the president on July 16 and it is now a law. It is scheduled to be in effect as of July 2025 and the fiscal council estimates a fiscal impact of 0.3% of GDP between 2025 and 2069 (approx. COP $5 trillion each year).
  • It provides another potential obstacle for President Petro’s challenging tenure. The president’s approval rating was 34.6% in July, compared to 34% in May 2023, according to a poll by Invamer published on Blu Radio’s website in early August.
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