Ley del Cesante
Cesantías are essential, and workers can choose how much to save in accordance with the law.
What is the Unemployment Protection Mechanism?
The Unemployment Protection Mechanism, established by Law 1636 of 2013, aims to articulate and implement a comprehensive system of active and passive policies to mitigate the effects of unemployment and facilitate the reintegration of unemployed individuals into the labor market. Within this mechanism, Cesantías are a key component, and workers may voluntarily decide on the savings they will set aside from them, in accordance with articles 2 and 7 of the same law.
Benefits
Voluntary Cesantías savings are part of the Unemployment Protection Mechanism, which, in the event of unemployment, provides you with the following benefits for six months:
Health and pension contributions based on one Current Legal Monthly Minimum Wage.
Access to the Public Employment Service and career guidance.
Monetary installments of family subsidy.
An economic benefit proportional to your Cesantías savings.
Important
To begin saving your Cesantías and accessing these benefits, you must visit one of our Service Points and express your intention to begin such savings, taking into account that:
* If your income is between 1 SMMLV and less than 2 SMMLV, the savings must be at least 10% of the average monthly salary over the last year.
* If your income is 2 or more SMMLV, the voluntary savings must be at least 25% of the average monthly salary over the last year.