00:00Part of it goes to Colpensiones and another part goes to private funds.
00:03There was a big debate about how much went to Colpensiones and how much went to private funds.
00:08What was agreed is that this cut-off, the threshold, is called, 2.3 minimum wages.
00:14So I'm going to give a couple of examples.
00:16If I earn 5 minimum wages, the employer now has to contribute 2.3 out of those 5 to Colpensiones.
00:24and the remaining 2.7 in the private fund.
00:30If I earn two minimum wages, then it all goes to Colpensiones because I'm not in the system; I'm below their income threshold.
00:35threshold.
00:36So that's how it's going to be priced now.
00:39Obviously, when calculating the pension based on the 2.3, it will be calculated as it is calculated in Colpensiones.
00:45The other 2.7 will be calculated as it is calculated in a private fund.
00:49Everything is added together and that is the pension the person will receive.
00:52They ask us what happens to those who have a service contract and they themselves prepare the quote.
00:59Exactly. They have to get the quote themselves and they need to come in for much clearer advice.
01:05to Colpensiones and the private funds to see how that contribution will be.
01:08But the threshold is 2.3 and I think that's the most important thing to keep in mind.
01:13from now on.
01:14Thank you!
01:16Thank you!
01:16Thank you!
01:19Thank you!
01:20Thank you!
01:21Thank you!
01:21Thank you!
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01:21Thank you!
