The Bank of the Republic requested clarity from the Constitutional Court regarding the entry into force of the pension reform.

In a document sent to the Constitutional Court, the general manager of the Banco de la República, Leonardo Villar, requested clarification regarding the pension reform, which was recently returned to Congress due to procedural issues.

Specifically, he requests clarification regarding the entry into force of the pension reform, which was scheduled to take effect when President Gustavo Petro signed the bill into law.

Likewise, regarding the entry into force of the Comprehensive Social Protection System for Old Age, Disability, and Common Death, scheduled for July 1, 2025.

This request is based on the fact that one of the elements of this system is the Contributory Pillar, which is made up of two components: the average premium and the complementary individual savings component.

The Contributory Pillar Savings Fund (FAPC) is a special account, whose administration was assigned to the Bank of the Republic. Its main objective is to manage and administer the resources from the Contributory Pillar of the new system.

For this reason, General Manager Leonardo Villar asked the Constitutional Court to consider the possibility of postponing the entry into force of the Comprehensive Social Protection System for Old Age, Disability, and Common Death until at least three months after the publication of the ruling declaring the pension reform constitutional.

He explained that this time is necessary to reactivate and implement the operational and contracting procedures that the Bank of the Republic must carry out as administrator of the FAPC.

Only when the pension reform is declared constitutional can the process of hiring external administrators be advanced and operational processes for receiving and transferring funds adjusted .

eltiempo