Streptococcus pneumoniae causes significant morbidity and mortality worldwide in both children and adults. The aim of this analysis is to evaluate the cost-effectiveness of vaccinating the Bogota adult citizens (over 50 years) with 13-valent pneumococcal conjugated vaccine (PCV 13) versus 23-valent pneumococcal polysaccharide vaccine (PPSV23) and no vaccination from the public payer’s perspective in Colombia. A Markov model was adapted to the Colombian public setting, using a time horizon of 4 years (3% annual discount rate). Comparators were PCV13, PPSV23 and no vaccination, vaccine coverage of 70% and projected Colombian population for 2013 were assumed, transition probabilities were extracted from literature review, medical costs were taken from a local study developed by the “Fundacion CardioInfantil”; vaccine prices were taken from the PAHO revolving fund price list, vaccines efficacies were taken from literature (for PCV13 children data from PCV7 studies were adjusted by immunosenescence), diseases incidences were retrieved from literature (Castañeda et al. 2010, Dickinson et al 2001) and costs were expressed in 2012 US$. Effectiveness measures were the number of pneumococcal diseases and deaths prevented, as well as life years (LY) saved. Over a 4-year period, vaccinating with PCV13 and PPSV23 against no vaccination prevents 2587 and 1804 cases of invasive pneumococcal disease; 2365 and 11 cases of invasive pneumonia and 357 and 139 deaths respectively. PCV13 saves 518 LY’s compared to PPSV23 and 44.9 LY’s compared to no vaccination. Total expected saving (vaccination + medical costs) for PCV13 was US$5.8M against PPSV23 and US$3.2 against no vaccination (total expected costs: US$54.5M; US$60.3M and US$57.7M respectively). Vaccinating adults over 50 years with PCV13 in Bogota is a cost-saving alternative in comparison to PPSV23 and no vaccination (US$3.5 and US$1.9 savings per patient, respectively). Study findings could support the decision-making process in favor of PCV13.