The maximum level of subsidised savings is set at COP 885 000 per year (i.e. USD 485) and the benefit at retirement cannot exceed 85% of the minimum wage. The BEPS will help broaden pension coverage and should be implemented swiftly. Familias en Action is the main conditional cash transfer programme. Created in 2001 to protect the rural poor during the severe crisis of the late 1990s, it has since been expanded to urban areas and now benefits poor, displaced and indigenous households. It covers 98% of the municipalities and benefits roughly a fifth of the population - a higher proportion than many similar conditional cash transfer programmes in Latin America (Figure 1.22) - for a fiscal cost amounting to 0.2% of GDP in 2011. The average benefit amounted to about COP 110 000 per household every two months, which annually represents about 5% of GDP per capita.