Social security contributions in detail

For social security obligations, all employers must register employees with the Integral General Social Security System and pay the employees’ monthly contributions. Employees may voluntarily choose the entities they wish to pay into for the General Pensions System (‘GPS’) and the General Health System (‘GHS’). The employer will choose the General Professional Risks System (‘GPRS’).

Contributions are calculated as follows:

System Contribution (% of salary)
Employee Employer
GPS 4 12
GHS 4 8.5
GPRS 0 0.522 to 6.96

 

Further, in accordance with Colombian labour law, employees who earn more than four times the minimum wage must pay an additional amount to the GPS, for the solidarity pension fund, amounting to 1% of the salary.

For employees with salaries of more than 16 times the minimum wage, an additional contribution for the solidarity pension fund will apply, as follows:

  • between 16 and 17 times the minimum wage, 0.2%;
  • between 17 and 18 times the minimum wage, 0.4%;
  • between 18 and 19 times the minimum wage, 0.6%;
  • between 19 and 20 times the minimum wage, 0.8%; and
  • 20 times the minimum wage or more, 1%.
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Author: Brigard & Urrutia Abogados

Date: April 2020


Note: All currency conversions into EUR were made on 1 February 2019, using a mid-market rate.