- Under the concept “Future Self" and based on behavioral sciences that identify the most frequent biases of people associated with financial aspects, Protección highlights the importance of making conscious financial decisions to build a future with well-being and prosperity.
- With this campaign, Protección reaffirms its commitment to accompany people with information and education so that they can build their future from today.
- According to figures from Protección's actuarial team, if a young person voluntarily saves 10% of their monthly salary with the idea of improving their wellbeing in retirement, their pension could be approximately 45% better.
Medellín, April 22nd, 2024. Within the framework of Social Security Week, which will take place between 22 and 26 of April, and with the concept "Future Me", Protección highlights the importance of making financial decisions today, such as saving and financial planning, to build a future with well-being and prosperity.
This is why Protección, understanding the needs that customers have in terms of financial wellbeing and based on the biases identified through behavioral sciences, is promoting this campaign focused on encouraging savings as the best ally of Colombians.
For example, according to studies from Protección's actuarial team modelled on prospective methodologies, if a 29-year-old voluntarily saves 10% of their monthly salary, their pension could be approximately 45% better, and if they save 5% of their monthly income, their pension could improve by up to 23%. On the other hand, if a person starts voluntary savings after the age of 40, the result, even if they save 10% of their monthly income, is only up to 20% more.
A study by the World Bank indicates that the percentage of savings of Colombian households over the last 10 years has remained between 7.7% and 10%. Furthermore, compared to other Latin American countries, Colombia ranks eighth in terms of saving in financial accounts or mobile devices, with only 13% of the population saving in these modalities, according to the World Bank's Global Findex 2021 report.
"At Protección, we are convinced that saving is the key to ensure financial wellbeing. We understand our clients' needs and aspirations in today's landscape, and we are relentlessly dedicated to providing expert advice that turns savings into a solid foundation for the future. Beyond pursuing financial stability, we strive to catalyze personal progress, set goals and achieve them," highlights Juan David Correa, president of Protección.
In this sense, and with the conviction of accompanying its customers at every stage of their lives, Protección offers savings alternatives ranging from voluntary savings plans to personalized investment strategies. It currently manages close to $11 billion pesos in voluntary savings for customers, and in savings initiatives such as +Protección it serves close to 38,000 savers. The alternatives provide these customers with a wide range of tools to strengthen their long-term finances. These instruments not only allow individuals to accumulate resources for their retirement, but also play a crucial role in balancing the pension gap affecting Colombians.
The "Future Me" concept goes beyond a simple reflection; it is a call to action. It is a reminder that financial decisions today have a direct impact on the quality of life in the future. Protección extends an invitation to visualize the future with clarity and to make concrete decisions to ensure a prosperous tomorrow. By encouraging Colombians to take proactive steps to strengthen their financial security, the company is making a significant contribution to addressing this structural challenge and ensuring a stable tomorrow for all its members.
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About Protección
Protección S.A. is an expert in savings and investment, with 30 years of experience in the management of resources of more than 130 trillion pesos from 8.3 million clients of the Mandatory, Voluntary and Severance Pension Funds and more than 73 thousand pensioners. The Company has transcended in its category, energizing the focus of its business in the management of assets destined for mandatory pensions and severance pay, to take it to the next level that involves the mobilization and management of savings to be an ally of its stakeholders with the purpose of accompanying them in the fulfilment of their dreams and the construction of their future.
Press contact for Protección:
Juan David Posada Garzón
Tel: 320 673 98 90
[email protected]
Press contact for Edelman:
Andrea de la Torre, Edelman Colombia
Tel. 310 2104026
[email protected]
Aura Quilindo, Edelman Colombia
Tel. 3146876183
[email protected]
