Jun 3, 2015 01:35
9 yrs ago
2 viewers *
Spanish term

les faltare menos de diez (10) años para adquirir el derecho

Spanish to English Bus/Financial Business/Commerce (general) retirement
A very confusing passage from a Colombian law on pensions:

El ingreso base para liquidar la pensión de vejez de las personas referidas en el inciso anterior [that are at least 40 years of age and have 15 years of service] que les faltare menos de diez (10) años para adquirir el derecho, será el promedio de lo devengado en el tiempo que les hiciere falta para ello, o el cotizado durante todo el tiempo si esto fuere superior, actualizado anualmente con base en la variación del Indice de Precios al Consumidor, según certificación que expida el DANE".

Seems to say something about how pensions are paid when the individual has less than ten years to go in order to be eligible for retirement. But why would benefits be paid if this person is not yet eligible? Surely my understanding is flawed somewhere in this segment.

Discussion

lorenab23 Jun 3, 2015:
So This has to do with a change in the "Pension para la vejez" by the Colombian Government known as the RÉGIMEN DE TRANSICIÓN (April 1st 1994) so is not that they are paying you before the 10 years, they are using those 10 years to calculate what you are going to get paid. However if this law came about when you were at less than 10 years then it is calculated as your text explains. Does this make any sense? At least this is how I understand it.
lorenab23 Jun 3, 2015:
First let me post this and then I will try to explain what is going on:
B. Artículo 21 Ley 100 de 1993: “Se entiende como ingreso base para liquidar las pensiones previstas en esta ley, el promedio de los salarios o rentas sobre los cuales ha cotizado el afiliado durante los diez (10) años anteriores al reconocimiento de la pensión

Proposed translations

+1
6 hrs
Selected

(those) with less than ten (10) years left to acquire the right

This is how I would translate it.
Peer comment(s):

agree Billh
26 mins
Gracias Billh
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4 KudoZ points awarded for this answer. Comment: "Thanks!"
31 mins

they would need less than 10 years to acquire the right

Creo que eso es el significado.
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1 day 20 hrs

who will be less than 10 years short of acquiring the right

My interpretation is that the text is differentiating between two subgroups of the people who are over 40 years old and have more than 15 years of service: 1. The first group is those who qualify for the pension - not discussed much here, but they presumably get the whole standard pension. 2. The second group is those who don't quite qualify, but are less than 10 years short of the time required - they don't get the whole standard pension; they get either A. the average accrued during the time that they would be required to contribute to qualify for the whole pension, or B. the amount contributed during the period - whichever is greater; updated annually based on changes in the Consumer Price Index. I have to admit that I haven't worked much with the future of the subjunctive, & I'm not completely clear on how to translate "faltare" and "hiciere".
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