FOMAG

Government Social Security Fundfomag.gov.co

FOMAG is a Colombian government-mandated social security fund providing health insurance, pension administration, and severance pay services to over 800,000 public school teachers and beneficiaries, administered by Fiduprevisora S.A. since 1990.

Company typePrivate
Founded1989
HeadquartersBogotá, Colombia
Headcount—
GTM typeB2C
OfferingServices

What FOMAG does

FOMAG (Fondo Nacional de Prestaciones Sociales del Magisterio) is a Colombian government-mandated social security fund created by Law 91 of 1989 to administer comprehensive social benefits for national and nationalized public school teachers. Operating as a special national account (cuenta especial de la Nación) without legal personality, FOMAG serves over 800,000 teachers and beneficiaries across Colombia, providing health insurance, pension administration, severance pay (cesantías) management, disability and incapacity benefits, and death insurance. Affiliation is automatic upon joining the public teaching profession, with mandatory contributions from both teachers and the Colombian government.

The fund operates a multi-channel digital and physical service infrastructure administered by Fiduprevisora S.A. under Fiduciary Mercantile Contract No. 83 of June 21, 1990. Core technology assets include the HORUS (SUIM-HORUS) health management information system for processing service requests, incapacities, and provider coordination; the FOMAG Móvil mobile application for iOS and Android enabling self-service benefits access; the FOMAG Zona Privada online portal; the Humano platform used by Education Secretariats for teacher affiliation management; and integrations with Colombian payment systems (PSE, eCollect), government procurement (SECOP II), and communication channels (WhatsApp Business, web chat). Service delivery is supported by 34+ regional offices across all Colombian departments, a national call center, and dedicated health service lines.

FOMAG does not operate a commercial pricing model; instead, it functions as a statutory social benefits administrator funded through mandatory teacher and government contributions under Colombian law. Governance rests with a Directive Council chaired by the Minister of Education, with representation from the Ministries of Finance and Labor and two teacher representatives. In December 2024, the Directive Council approved Acuerdo 03 de 2024 establishing a new health model (Modelo de Salud del Magisterio) to restructure health service delivery for affiliated teachers, marking the most significant operational modernization in the fund's recent history.

FOMAG firmographics

Firmographics

Name: FOMAG
Legal name: Fondo Nacional de Prestaciones Sociales del Magisterio
Website: https://fomag.gov.co
Company type: Private
Founded year: 1989
Operating status: Operating
Short description: FOMAG is a Colombian government-mandated social security fund providing health insurance, pension administration, and severance pay services to over 800,000 public school teachers and beneficiaries, administered by Fiduprevisora S.A. since 1990.
Ownership category
akta.pro rank

FOMAG industry classification

Industry

Product category: Government Social Security Fund
NAICS: Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120), Pension Funds (525110)
SIC: Hospital & Medical Service Plans (6324), Services-Social Services (8300)
akta.pro primary industry: Employee Benefit & Retirement Plan Trust Services (FSAAANAC)
akta.pro secondary industries: Fiduciary Agency & Trustee-for-Hire Services (FSAAANAL), Student Refunds & Disbursements (Including Title IV Credit Balances) (EDALAJAF)

Keywords

Public pension fund
Teacher healthcare benefits
Severance pay administration
Social security fund
Disability benefits management

Where FOMAG is headquartered

Location

Headquarters

HQ city: Bogotá
HQ country: Colombia
HQ region: Latin America

Offices35 records

Markets served

FOMAG business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

Teacher Pension Contributions: Mandatory contributions from active teachers and the Colombian government for pension and social benefits administration. Sources include employer contributions, teacher contributions, and additional government contributions.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

FOMAG product offering

Product offering

Core offering

FOMAG administers mandatory social security benefits for Colombian public school teachers, including health insurance, pension administration, severance pay (cesantías) management, disability/incapacity benefits, and death insurance. The fund operates a unified system through Fiduprevisora S.A. as fiduciary administrator, serving over 800,000 active and retired teachers nationwide through 34+ regional offices and digital platforms (HORUS, FOMAG Móvil, FOMAG Zona Privada). Services are provided to affiliated teachers as a statutory right under Law 91 of 1989.

Product overview

FOMAG (Fondo Nacional de Prestaciones Sociales del Magisterio) is a Colombian government social welfare fund for teachers that provides a unified platform of health insurance, pension, and severance benefits. The organization operates primarily through its digital platforms including the FOMAG Móvil mobile application and the HORUS health management system, administered by Fiduprevisora S.A. Key services include health coverage, pension management, severance payments (cesantías), disability benefits (incapacidades), assistance benefits (auxilios), and death insurance. The fund serves over 800,000 active and retired teachers across Colombia through a network of regional offices and digital service channels.

Differentiator

Problem solved

Functional benefit

Products and services

Health Insurance and Modelo de Salud del Magisterio Comprehensive health insurance coverage for Colombian public school teachers and their beneficiaries, structured under the new Modelo de Salud del Magisterio. Includes nationwide provider network coordination, medicine network access, and health service request processing via the HORUS system.
Pension Administration Pension fund administration for active and retired Colombian public school teachers, including contribution collection, pension calculation, monthly pension disbursements to retirees, and statement access via FOMAG Zona Privada.
Severance Pay (Cesantías) Management Administration of severance pay (cesantías) and interest on severance pay for Colombian public school teachers, including accrual tracking and disbursement processing.
Disability and Incapacity Benefits Administration of disability and incapacity benefits (incapacidades y auxilios) for Colombian public school teachers, including request processing, medical provider coordination, and benefit disbursement.
Death Insurance (Seguro por Muerte) Death insurance benefit payment to designated beneficiaries of deceased Colombian public school teachers.
FOMAG Móvil Mobile Application
HORUS Health Management System (SUIM-HORUS) Health management information system for processing health service requests, managing incapacities, and coordinating medical providers for the Colombian teacher population. Includes web access and WhatsApp integration.
FOMAG Zona Privada (Online Portal) Secure online portal enabling Colombian public school teachers to access certificates, payment information, and manage their FOMAG benefits remotely.

Companies that use FOMAG

Customer profile

Named customers1 record

Segments1 record

Ideal customer profiles2 records

FOMAG technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

FOMAG partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Fiduprevisora S.A.coreStrategic or Co-development PartnerFiduprevisora S.A. is the sole fiduciary administrator of FOMAG, managing all fund resources under Contract No. 83 of June 21, 1990. As a state-owned mixed-economy company (economía mixta) with over 90% government ownership, Fiduprevisora handles administration, investment, and distribution of FOMAG resources. Fiduprevisora also provides customer service, operates the call center, and manages the FOMAG Zona Privada online platform.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

FOMAG competitors and assessment

Company assessment

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

FOMAG financial estimates

Financial estimate

Revenue estimate

Valuation estimate

FOMAG leadership team

Management profile

Number of profiles

Profiles5 records

FOMAG funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

FOMAG M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FOMAG

What does FOMAG do?

Is FOMAG a public or private company?

FOMAG is a private company. It is classified as state government owned and is currently operating.

When was FOMAG founded?

FOMAG was founded in 1989.

Where is FOMAG based?

FOMAG is headquartered in Bogotá, Colombia, in the Latin America region.

How does FOMAG make money?

One revenue line is on record: teacher Pension Contributions.

Does FOMAG have an API?

No public API is recorded for FOMAG.

What industry is FOMAG in?

FOMAG's product category is Government Social Security Fund. Its primary akta.pro industry code is FSAAANAC, Employee Benefit & Retirement Plan Trust Services, with a secondary code of FSAAANAL, Fiduciary Agency & Trustee-for-Hire Services. Its NAICS code is 5251 and its SIC code is 6324.