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LatinNews Daily - 03 February 2021

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In brief: Pension fund contributions fall in Colombia

* Colombia’s pension fund administrators’ association (Asofondos) has reported that private pension contributions fell by 12.9% in 2020, down to Col$20.6trn (US$5.8bn), from Col$23.7trn in 2019. Asofondos president, Santiago Montenegro, attributed this decline to growing unemployment and the suspension of contributions in light of the coronavirus (Covid-19) pandemic, and called for the government to deliver structural reform to the pension system, which he warned will soon become unsustainable.