By Which It Authorizes The Minister Of Finance And Public Credit To Recognize As Public Debt Of The Nation's Outstanding Obligations Of The Social Insurance Fund Of Communications, Caprecom

Original Language Title: Por la cual se autoriza al Ministro de Hacienda y Crédito Público para reconocer como deuda pública de la Nación las obligaciones pendientes de pago de la Caja de Previsión Social de Comunicaciones, Caprecom

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LAW 419
1997 (December 30)
Official Gazette No. 43205 of December 31, 1997
Whereby the Minister of Finance is authorized to recognize as public debt of the Nation outstanding obligations of the Social Insurance Fund of Communications, Caprecom. Summary

Term Notes


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Article 2.
. The Social Welfare Communications, Caprecom, enter into a performance agreement with the Ministry of Finance and Public Credit and the National Health Authority in which mechanisms to ensure the financial stability and compliance with the provisions governing established the Social Security system in Health.

ARTICLE 3o. If within six (6) months following the entry into force of this law months, the Social Insurance Fund of Telecommunications, Caprecom, it is not operating at break even or generating surpluses, the national government shall proceed to immediate liquidation.
PARAGRAFO. The Director of Caprecom yield during the period referred to in this article, certified monthly reports by the auditor of the company on the progress of the performance plan the National Superintendent of Health and Banking, whom the deadline shall render technical concept on administrative, economic and financial viability of the institution.
. Pooled Management Public Nature. Pooling public nature of which Article 4 of Law 314 of 1996 only concur in the financing of pensions, based on contributions received from the time the annuitant meets the general conditions laid down by the Act 100 1993. for the calculation of pension reserves Sector Entities Communications must transfer to the fund should be considered an obligation to finance 100% of pensions, minus the amount that reaches to be taken with quotes received.
While companies in the communications sector move the total value of pension reserves the Common Fund for Public Nature should turn Caprecom the total value of the payroll of their pre-payment of the same pensioners. Caprecom monthly advance payment of the external communications undertaken by the business sector and, once collected, paid to good account the payroll of pensioners pension immediately following fees parties.
PARAGRAFO 1o. Annually the actuarial calculations are made to pensioners of each company and if the reserves held by the Common Fund for Public Nature insufficient, employing units should cover the amount of the missing set. The first calculation shall be made within six months after the issuance of this law and its implementation and cost borne by the employing entities. The following actuarial calculations shall be the responsibility of Caprecom and will be financed with resources received as compensation for pension administration.
PARAGRAFO 2o. The agreements concerned the 1st paragraph of Article 4 of Law 314 of 1996, between the Board of Caprecom and entities of communications for the gradual transfer of pension reserves the Common Fund for Public Nature sector should be made within the implementation of the corresponding actuarial calculations prior technical report given them by the Banking Superintendency three months.

The 5th ARTICLE. This law applies from the date of its enactment.
The President of the honorable Senate,
The Secretary General of the honorable Senate,
The President of the honorable House of Representatives,
The Secretary General of the honorable House of Representatives DIEGO VIVAS TAFUR.
published and execute.
Given in Santa Fe de Bogota, DC, 30 December 1997.

Ernesto Samper Pizano The Deputy Minister of Finance, in charge of the functions of the office of the Minister of Finance and Public Credit, EDUARDO FERNANDEZ DELGADO.
The Minister of Communications, JOSE BAUTISTA FERNANDO QUINTERO.

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