Insostenibilidad fiscal del Régimen de Prima Media en Colombia, 1993-2018

Abstract

This study has a its main purpose to analyze the unsustainability of the pension system in Colombia (Minimum Prime Regime) and describe the main factor that affects this system, taking as base the previous pension system reforms that occurred throughout the years -- The methodology is based in the descriptive analysis of the country´s pension system in the context of the classical growth model, the Solow Model and the theory of the vital cycle of Franco Modigliani -- They both emphasize in the importance of the long-term savings, in this case the pension system regime as a backup for the investment needed for the country´s sustainable economic growth