What's Happening?
The Colombian Constitutional Court is set to make a decision on a significant pension reform aimed at addressing gender equality. The reform proposes to gradually reduce the required contribution weeks
for women from 1,300 to 1,000 by 2032. This change is intended to address disparities linked to earlier retirement ages for women. Labor and Employment attorney Camilo Cuervo highlighted that the reform is part of a broader effort to create public policies that support the formalization and hiring of women in the workforce.
Why It's Important?
This reform is crucial as it addresses gender disparities in pension systems, which have historically disadvantaged women due to career breaks and lower lifetime earnings. By reducing the contribution weeks, the reform aims to provide women with more equitable retirement benefits. This could set a precedent for other countries facing similar gender gaps in pension systems. The decision could also influence public policy, encouraging more inclusive employment practices and potentially boosting female participation in the workforce.
