'Companies have complied with their employees’ severance payments': Protección

'Companies have complied with their employees’ severance payments': Protección
  • At the end of February 15, Protección raised $2.7 trillion in severances, representing above-average industry growth.
  • The figures confirm the trust of more than 2.7 million people and nearly 700,000 companies that chose Protección as their severances fund
  • This mobilization of severances contributes significantly to the reactivation of the country's productive flow. Thousands of Colombians have the opportunity to improve their quality of life by contributing to the economic restart, by investing in education and buying or improving their own homes. In turn, these savings are destined to help in the event of unemployment.
  • It is time to apply the learnings left to us by the situation, in terms of awareness of the importance of savings as the best way to be prepared for the future.
  • The invitation is to save severances and when it comes time to access them, to do so in a 100% digital way, thus avoiding displacements and crowds in physical service points, in order to promote the self-care of Colombians.

After one of the most challenging years in the recent history of the country and the world, a gradual process of social and economic recovery begins to take place. A sign of the above is the growth of severances’ collection, which went from $8.9 trillion in 2020 to $9.2 trillion in 2021. In the case of Protección, collection increased from $2.5 trillion in 2020 to $2.7 trillion in 2021, representing a higher increase than the entire industry that stands at 3.3% and it shows, first and foremost, the confidence of more than 2.7 million Colombians in the entity.

"2020 was a year of countless challenges and learnings. In the midst of all this, we want to highlight employers' efforts in complying with their employees in depositing their severances, a resource that contributes significantly to the revival of the country's productive flow. Thanks to this, thousands of Colombians have the opportunity to improve their quality of life by contributing to the economic revival through the fulfillment of their education and home purchase or renovation projects," said Juan David Correa, President of Protección.

Digital channels: the safest option

In addition to recognizing the country's strength by having a mechanism such as severances for economic turmoil such as the current one, the Company reiterates its invitation to increase the savings culture in Colombia, as the best mechanism to deal with contingencies such as this. These resources thus must be properly used, not considering as an extra income, but as that cushion that can provide well-being at times or circumstances that really demand it.

Protección also encourages safety of people by promoting the use of digital channels for severances related transactions. In this sense, it is worth remembering that in www.proteccion.com both companies and affiliates at the time of accessing them can process everything related to their severances, without having to travel to customer service offices, thus avoiding displacements and crowds that may pose contagion risk.
Also, through its alliance with Nequi, Protección makes it easier for its customers to access their severances through that platform, without having to be banked. With initiatives like this, the company brings its financial services closer to the daily life of Colombians.