Payroll & Pensions Department Privacy Notice
University of Bradford
https://www.bradford.ac.uk › data-protection
PDF
This notice applies to all employees/students for whom pay is processed/pension administered via the Payroll & Pensions Department. Types of Personal Data ...

https://www.oecd.org/els/public-pensions/PAG2021-country-pro...

A peculiarity of the Colombian pension system is that there is a structural issue in the contributory component, since the public administrator of the RPM* (Colpensiones) and the private fund managers of the RAIS (the private pension funds, AFPs) compete under unequal conditions: whereas in the public PAYGO system pensions are determined by the number of years of contributions and the basic taxable salary of the last ten years, in the private sector they are determined by the number of years of contributions and/or the paid-in capital.
* Average Premium Plan (RPM)

The Colombian pension system
First pillar: Non-contributory public system, which includes the Social Protection Program for the Elderly or
"Colombia Mayor." This program provides a pension of 80,000 Colombian pesos per month (USD 21.1) to
people highly exposed to poverty.
Second pillar: Mixed competitive system, operational since 1993. People can choose between:
• Average premium Plan (RPM), a public defined-benefit PAYGO system, managed by Colpensiones.
Members contribute 16% of their salary to the system (13% to the common fund and 3% in
commissions). Requirement for accessing a pension: 1,300 weeks (25 years) of contributions. The taxable base salary considered for calculating the pension is the average salary of the last ten years. Should an individual fail to access a pension, a "substitute compensation" is provided, corresponding to the contributions adjusted for inflation.
• Individual savings system with solidarity (RAIS), a private individual savings system, managed by the AFPs. Members contribute 16% of their salary to the system (11.5% to the individually funded account; 3% to payment of disability and survival insurance and commissions; and 1.5% to the Minimum Pension Guarantee Fund, FGPM). Requirement for accessing a pension: 1,150 weeks (22 years) of contributions, or sufficient accumulated capital to obtain a pension higher than the minimum wage. Should an individual fail to comply with the 1,150 weeks of contributions requirement, a refund of balances, for an amount including inflation and returns, is provided. If the individual meets the 1,150 weeks of contributions requirement, but the contributions do not suffice for financing a minimum wage pension, a pension equal to the minimum wage is guaranteed, financed with the solidarity contributions of all RAIS members through the FGPM.
https://www.fiapinternacional.org/wp-content/uploads/2022/07...

COLPENSIONES, Colombia's Pension Administration, is an Industrial and Commerical State Company organized as a financial entity os special nature, and belonging to the Ministry of Labor
https://www.colpensiones.gov.co/publicaciones/468/who-are-we...

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Note added at 1 óra (2023-07-14 15:02:08 GMT)
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See the Section 4 - functions

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Note added at 1 óra (2023-07-14 15:04:03 GMT)
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Pension payroll software and solutions
Ciphr
https://www.ciphr.com › pensions-payroll-solutions
Our pensions payroll software are available as either a hassle-free hosted payroll software or a specialist managed bureau service.

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Note added at 1 óra (2023-07-14 15:04:50 GMT)
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Pension Payroll - BERS
NYC.gov
https://www.bers.nyc.gov › bers › member-services
If you are a BERS retiree, the Pension Payroll department is responsible for answering questions concerning pension checks, direct deposit, retiree address ...