Colombia

Region

Colombia has a social pension.

Older people demographics

  • 7.4 m

    Population aged 60+

    Total number of persons aged 60 years and older in the country/territory

  • 14.1 %

    Percentage of total population aged 60+

    Percentage of the total population that is aged 60 years and older

  • 27.2 %

    Percentage of total population aged 60+ in 2050

    Percentage of the total population projected to be aged 60 years and older in 2050

Pension coverage

  • 54.4 %

    Total coverage of pension system

    Percentage of people aged 60 years and older who receive any old age pension (all types)

  • 23.5 %

    Contributory pension coverage

    Percentage of people aged 60 years and older who receive a contributory old age pension

  • 30.9 %

    Social pension coverage

    Percentage of people aged 60 years and older who receive a tax-financed old age social pension

How is the social pension designed?

Scheme Old age social pension
Social pension name in local language Colombia Mayor
Type Social assistance (poverty targeted)
Eligibility age 59 for men, 54 for women
Monthly transfer amount in local currency: 80,000 Colombian Peso
Monthly transfer amount as a percentage of per capita GDP: 2.98%
Monthly transfer amount as a percentage of relevant World Bank poverty line: 23.7%