2023-10-24 05:03:40
Disability and survival pension insurance is part of the General Social Security System of Colombia, contracted by the Pension Fund Administrators (AFPs) with an insurance entity to cover their members, guaranteeing the recognition and payment of a pension in accordance with the Law. 100 of 1993.
Who pays it?
Any person of legal age who makes contributions to a Mandatory Pension Fund in Colombia.
In what cases does it apply?
Disability insurance applies in the event of an illness or accident that permanently disables you from working, which will allow you to receive a monthly pension allowance for life, as long as you have made your respective mandatory pension contributions.
The survivor pension is a pension benefit that is received monthly, for having met the necessary requirements, after the death of your affiliated family member or pensioner, and it applies in two cases:
Temporary: those beneficiaries who receive the pension allowance for a specific period of time. Not all spouses are life beneficiaries. There is an exception called ‘Spouse or temporary partner’, this is a person under 30 years of age, without children of the deceased member, who will receive a pension for a maximum period of 20 years.
Among the people who can benefit are also children under 18 years of age, who can demonstrate that they were financially dependent on the deceased and that if they are studying they will be able to receive a pension up to the age of 25.
If the deceased did not have children, a partner or eligible parents, siblings who lost 50% or more of their working capacity and who were financially dependent may be beneficiaries.
Lifetime: the most common beneficiaries are usually the partner or permanent companions. To access the allowance they must demonstrate that they had a minimum of 5 years of successive cohabitation.
Children with a qualifying disability greater than 50% before the member’s death, siblings who have lost 50% of their physical capacity and were financially dependent on the deceased member, or parents who were financially dependent on the member may also be beneficiaries.
It should be noted that the allowance cannot exceed 75% of the base income and cannot be less than the minimum wage.
You may be interested
How many weeks are necessary?
If the deceased contributed at least 50 weeks in the previous three years, his beneficiaries have the right to a survivor’s pension. If you contributed for 50 weeks, the pension will be equivalent to 45% of your contribution base income (IBC), corresponding to the average of the salaries or income on which the member contributed monthly. Likewise, for every additional 50 weeks, that percentage increases by 2%.
How to claim the insurance benefit?
People who are going to claim the provisional disability insurance pension benefit must contact the corresponding AFP and deliver all the documentation requested to prove that they have lost more than 50% of their working capacity. If the claim is for death, the beneficiary must provide the death certificate and the documents that the AFP requests.
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