The next August 7with the inauguration of Abelardo de la Espriella as the new president of Colombia, Gustavo Petro’s mandate ends. As former presidentyou will be entitled to a life pension just as has happened with other former leaders of the country.
According to Colombian legislation, as former head of state, Gustavo Petro you will be able to access a pension equivalent to 100 percent of the monthly allowance that senators and representatives of the Congress of the Republic earn for all reasons. That is, it is a value that for last year estimated at close to 51 million pesos —including the special service premium—. Without this benefit, the pension would be around 34.7 million pesos.
With the current salary structure, in which the salary readjustment of members of the Congress of the Republic increased by seven percent, Gustavo Petro’s pension could be over 55 million pesos per month. However, If the Council of State endorses the elimination of the special bonus, which is around 18.1 million pesos, the pension could remain at 37 million pesos.
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This is established by the Law 53 of 1978 and the Decree 1833 of 2016. That amount was also ratified by the Council of State through an official concept of November 27, 2024which describes the pension of a former president as “a defined benefit, equivalent to 100 percent of a congressman’s monthly allowance“.
However, the exact amount to be defined will be set by the Pension and Parafiscal Management Unit (UGPP) at the time of liquidation. The amount will also have to be paid from the National Treasure through the National Level Public Pension Fund (Fopep).
The requirements that must fulfill a former president to access the life pension
In order to access the benefit, the Law 48 of 1962 established a series of requirements that a former president had to comply with. The president should have complied 50 years and prove at least 20 years of service to the Statewhich could have been continuous or interrupted.
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As the years passed, the requirements were relaxed. This was specified by the Council of State after the Law 53 of 1978which establishes that the pension is recognized to whoever has held the positionregardless of age or length of service. Among the former presidents who have benefited are Cesar Gaviria (1990-1994), Ernesto Samper (1994-1998), Andres Pastrana (1998-2002), Alvaro Uribe (2002-2010), Juan Manuel Santos (2010-2018) and Iván Duque (2018-2022).
It is worth mentioning that at their 66 yearsthe president Gustavo Petro has a track record of more than four decadeswhich include his work as councilor of Zipaquirá (1984-1986), representative to the House (1991-1994 and 1998-2006), mayor of Bogotá (2012-2015), senator of the republic (2006-2010 and 2018-2022), and President (2022-2026).
Furthermore, another aspect that was modified was the pension amount of former presidents. The Law 48 of 1962 had established that outside the 75 percent of last salary that would be received in the position for those who met the two aforementioned requirements. If they did not comply, they were given a special pension with a fixed amount of 5,000 pesos monthlyaccording to the values of that moment.
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However, the Law 83 of 1968 modified what was established. Through article 2, it was established that the special pension for former presidents of the Republic would have to be “equal to the total amount of the appropriations of members of Congress“.
Then, in the Law 53 of 1978it was established that “the pension of the former presidents of the Republic would be equivalent to monthly allocation that for all concepts corresponds to the Senators and Representatives“. That is to say that, with this rule, unified the measure to establish the pension of former presidents.
This was endorsed by the Constitutional Court in the Sentence C-989 of 1999in which the high court considered that “it is not disproportionate that the special pension for former presidents has been set in a amount equal to the monthly allowance that corresponds to senators and representatives for all reasons“. And he added that, “if in relation to such officials a pension amount of 75 percent of said allocation was estimated to be proportionate, it is not unreasonable that someone who has provided a more arduous service and carried greater responsibility should be remunerated with a pension of 100 percent of said concept“.
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The assignment, in addition to including the basic salaryalso counts the representation expensesthe location and housing premiumthe transportation premiumthe health premium and so on remuneration factors that parliamentarians receive monthly, in accordance with the Decree 1833 of 2016. Anything that constitutes a non-remunerative factor is left out, then.
He Council of State He also clarified that although this is a special pensionit is not outside the general system. That is, it is governed by the Law 100 of 1993 and it is incompatible with any other old-age pension.
The most recent income tax returns and conflict of interest of the President Gustavo Petro
In Public Servicethe income tax returns of the representative corresponding to the 2019, 2021, 2022, 2023 and 2024.The one from 2020 was not published on the platform.
For 2023, Gustavo Petro declared a gross assets of 1,573,515,000 pesos, debts of 280,563,000 pesos and a liquid assets —what remains when debts are subtracted from gross assets—of 1,292,952,000 pesos.
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To the next yearhe gross assets declared by the Head of State was 1,433,859,000 pesos. That is, the amount decreased by 8.88 percent.
About the debtsbecame 131,783,000 pesos, 53.03 percent less than in 2023. And, regarding the liquid assets, Gustavo Petro reported 1,302,076,000 pesos -a 0.71 percent increase—.
In the 2024 conflict of interest statement, Petro declared income, assets and debts of 823,274,496 pesosdivided into representation expenses (496,658,000 pesos), salaries and other labor income (158,245,000 pesos)other income and rents (102,371,496 pesos) and severance pay and interest on severance pay (66 million pesos).
Declaration of conflict of interest of President Gustavo Petro. Photo:Composition TIME
Furthermore, he recorded having a savings account in Colombia with total balance of 78,756,000 pesos and two heritage assets in Chía, Cundinamarca: a property valued at 519,472,500 pesos and one classified as ‘other’ by 839,316,619 pesos.
With respect to your current debts and obligationsreported two credit cardsone with a balance of 2,013,709 pesos and another at $0.00. Furthermore, he declared a mortgage loan of 237,544,000 pesos.
Did not declare have participation in boards, societies and associations; private economic activities; neither conflicts of interest.
In the document with information for the following year, declared to his children: Sofia Petro Alcocer, Nicolás Fernando Petro Burgos, Antonella Petro Alcocer, Andrea Giovanna Petro Herrán, Andrés Gustavo Petro Herrán and Nicolás Petro Alcocer. And to their parents: Clara Nubia Urrego Duarte and Gustavo Ramiro Petro Sierra.
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In their income and incomedeclared a total amount of 862,640,227 pesosa 4.78 percent increase. The value was divided into representation expenses (531,424,000 pesos), salaries and other labor income (259,290,000 pesos)severance pay and interest (61,580,000 pesos) and other income and rents (10,346,000 pesos).
He also reported having a savings account with a balance of 195,090,196 pesos and two assets: a property for 851,794,000 pesos and ‘others’, identified as ‘living room, dining room and others’, for 839,316,619 pesos.
In their current debts and obligations to date, declared two credit cards for 14,709,355 pesos and 14,882,754 pesos, and a mortgage loan of 101,159,837 pesos.
He President Gustavo Petro He also declared his participation in a private economic activity: he book ‘One life, many lives’in which he became involved as collaborator.
DATA UNIT
SABRINA BASTIDAS IGUARAN
