Government to liquidate Cajanal

Colombia's government has decreed the liquidation of state-owned pension fund for public sector employees Cajanal due to poor management, the presidency said on its website. The liquidation process is expected to last two years, the presidency said. Cajanal affiliates will be transferred to social security agency ISS over the next month to guarantee them an adequate service. Cajanal was spun off from ISS years ago. ISS will continue to lend health and professional risk services to its affiliates.