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Social/Pension insurance (Bogotá)

Hi Everybody,

I am considering a move to Colombia bu I am worried about some practical issues I would like your opinion on.

I am currently working as a consultant in Belgium and am considering moving to Colombia for an undertermined period (thinking to a couple of years but we never know).
As a European, moving to Colombia implies starting paying for social and retirement plans in Colombia, country that has no international social conventions with Europe (no means of transferring a Colombian retirement capital to Europe if we move out for example).
One option would be to capitalize to an international retirement plan but apart of this being costly (this is about negotiating well my salary package), it is always made in US dollars or Euros (as the Colombian pesos is still hardly convertible).

Do you have experience in capitalizing for international retirement plans, is it possible, as a foreigner, to have a US Dollar or Euro bank account in Colombia? How foreigners living in Colombia manage this?

Obviously if I stay in Colombia until my retirement day, I can benefit from a Colombian retirement plan, but if even I decide to move out (back to Europe for example) I would like to be able from the money I capitalized in Colombia...

Any experience(s)?

Many thanks to all for your input !

Kind regards,


Bogotá Forum