Abstract

DUQUE GOMEZ, NORA  and  DUQUE QUINTERO, SANDRA PATRICIA. The fundamental right to retirement and the principle of financial sustainability: an analysis from the Media Savings Regime in Colombia. Justicia Juris [online]. 2016, vol.12, n.1, pp.40-55. ISSN 1692-8571.  https://doi.org/10.15665/rj.vl2il.886.

The General Pension System created by Law 100 of 1993 works with a dual and exclusive structure made up of a Solidarity System with Defined Benefit Media savings and one Individual Savings with Solidarity. Since the entry into force of this bimodal system, there have been a series of reforms in order to solve problems of coverage, inequality and financial sustainability. Therefore, in relation to the latter, in 2005, it was enacted Legislative Act 01 which raised financial sustainability to constitutional status, with no significant positive impacts. Therefore, in this article the constitutional principle of financial sustainability is analyzed from the perspective of Media Saving Scheme with defined benefit obligations and within the public pillar, as a leading guarantor of the right to a pension. It is concluded that sustainability should not be a reason to ignore fundamental rights such as the right of retirement, much less be grounds for retrogressive measures that limit the realization of this right. Also, it is said that it domains must fall within a framework of progressiveness and social sustainability, according to the Social State of law as it is the Colombian state..

Keywords : Financial balance; progressivity principle; General Retirement System; Solidarity Regime with Saving Prima Defined Benefit; Individual Savings Regime with Solidarity.

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