Law 1580, 2012, recently enacted, created in Colombia the figure of the Family Pension, which aim is to allow spouses or permanent companions of low incomes to access a retirement pension. The Family Pension will be recognized by the sum of contributions of each spouse or permanent companions, fulfilling the requirements in any of the two old-age pension schemes, as follows:

For the individual savings solidarity regime, it is necessary among other requirements, that both spouses or partners meet the requirements for payment of the compensation in lieu of pension in this system and that they voluntarily choose the Family Pension if the accumulated capital between them is enough to meet the amount required to become entitled to a retirement pension. The family pension for each spouse or permanent companions.

In the average premium scheme with defined benefits, the only beneficiaries of the Family Pension are those who are classified in levels 1 and 2 of the so-called "SISBEN" (SISBEN is an identification system of potential beneficiaries of social welfare programs). Under this first requirement, who are eligible to acquire the payment in lieu of the old age retirement pension and have the minimum retirement age and the weeks of contributions required for the retirement pension.

To refer to other requirements and conditions, and view the complete text of Law 1580 of 2012, click here.