The Superintendencia Financiera de Colombia published updated figures on employer contributions to workers’ severance (cesantías), reporting COP 16.101 trillion in payments for 2024 severance accrued and deposited by 14 February 2025. This represents a 15.79% nominal increase and a 10.06% real increase versus the severance amounts deposited in 2024. Of the total, 77.7% (COP 12.51 trillion) was paid through private severance fund administrators and 22.3% (COP 3.60 trillion) through the National Savings Fund (Fondo Nacional del Ahorro). Total severance affiliates reached 12,633,161 workers (7,618,204 men and 5,014,957 women), with 60.2% located mainly in Bogotá, D.C. (32.8%), Antioquia (18.2%) and Valle del Cauca (9.2%). In 2024, affiliates of private administrators withdrew COP 10.65 trillion in severance balances, up 17.3% year on year; contract termination remained the main withdrawal reason (36.2%), and for termination-related withdrawals, 46.1% came from long-term portfolios and 24.8% from short-term portfolios.
Superintendencia Financiera de Colombia 2025-02-17
Superintendencia Financiera de Colombia reports 2024 severance contributions up 15.79% to COP 16.101 trillion
The Superintendencia Financiera de Colombia reported COP 16.101 trillion in severance payments for 2024, marking a 15.79% nominal and 10.06% real increase from the previous year. Of this, 77.7% was managed by private severance fund administrators and 22.3% by the National Savings Fund. Total severance affiliates numbered 12,633,161, with significant withdrawals due to contract terminations.