Your Rights as a Retiree in Panama

Law 6 of 1987 entitles the elderly, retirees, and pensioners in Panama to discounted products and services. This applies to women 55 years and over and men 60 years and over. If you're in Panama on a pensionado visa, then you're entitled to the same discounts, no matter your age. To qualify for the discount, you'll need to present your blue cédula card (the one with the giant E on it) because the provider needs to record your cédula number for tax purposes. If you're younger than 55 and 60, you'll need to present your yellow immigration card to prove that you're here on a pensionado visa.

The discount granted by Law 6 of 1987 is nontransferable and only applies to the product or service utilized by the retiree, no matter who pays.

For example, if a retiree rents a hotel room and shares it with someone who is not retired, the discount only applies to half of the cost of the room. 

Here’s another example: If a family of four eats at a restaurant and only one person is entitled to the retiree discount then only one meal of the four will be discounted. Sometimes places (such as the concession stand at PriceSmart) will charge and record the jubilado transaction separately from the other orders.

So here's what's discounted:

Discounted entertainment:

• 50% discount on recreational activities and entertainment, such as cinemas, theaters, sports, and other public spectacles. This discount does not apply to events intended for children.

Discounted public transportation:

• 30% discount on bus fares
  
• 30% discount on trains
  
• 30% discount on boats that transport people from one location to a different location. The discount does not apply to boats that depart from and return to the same port.
  
• 25% discount on plane tickets

Hotels, motels, and pensions are discounted:

• 50% from Monday to Thursday
  
• 30% Friday, Saturday, and Sunday

Discounted meals:

• 25% discount on meals ordered in and consumed at restaurants, excepting fondas and mobile food carts. This discount applies to appetizers, entrees, dessert, and drinks. However, if the retiree only purchases a dessert or hot or cold drink then the discount does not apply.
• 15% discount at fast food franchises, both national and international. Fast food is typically food that is ordered and received at a counter or found in a food court or shopping mall.

Discounted medical services:

• 15% discount for services at private hospitals and clinics. Hospitals and clinics typically break down their billing to separate “service fees” from other fees, otherwise ACODECO will enforce a discount on the entire amount billed.
• 20% discount on medicine from pharmacies. This discount does not include supplements or anything not intended to prevent, diagnose, or treat an illness.
• 20% discount on general medicine, specialist, and surgical consults
  
• 15% discount for dental services
  
• 15% discount for optometry
  
• 20% discount on prosthesis and required medical aparati

Discounted banking services:

• 50% discount on closing costs for personal and commercial loans. This includes for cars and mortgages.
• 15% discount on the maximum interest rate that banks can charge on personal and commercial loans in your name.
  
• 1% discount in the interest rate for mortgages for personal use. Mortgages under preferential rates as decreed by law are exempt from this discount.

Discounted utilities:

• 25% discount on electricity up to 600 kwh. The normal rate applies to anything exceeding this amount.
  
• 25% discount on landline telephone services. Cellular, internet, and television services are not included in this discount.
  
• 25% discount on water if the consumption is not greater than $30 a month. The normal rate applies to anything exceeding this amount.

Discounted funeral services:

• 20% discount on coffins, urns, and funeral services when the deceased is retired.