Colombia's Pension Reform Faces New Vote Due to Procedural Misstep

Colombia's constitutional court ruled that the lower house must re-vote on a pivotal pension reform due to a procedural issue, although it hasn't addressed the reform's constitutionality. The reform aims to fortify Colpensiones, decrease subsidies, and broaden coverage. President Petro will push for extra legislative sessions.

Colombia's constitutional court has mandated a re-vote on the country's crucial pension reform by the lower house due to a procedural mistake. The reform was initially approved in June 2024, seeking to enhance Colpensiones and expand pension coverage.

The legislation, pivotal for future pension policy, won't be effective until authorized by the court. The lower house must re-assess the already approved Senate version of the bill.

With a 30-day deadline to conduct the vote, President Gustavo Petro plans to call additional legislative sessions to secure its passage, emphasizing thorough discussion.

(With inputs from agencies.)