The Social Security Fund has issued a document detailing the proposed changes of reform project 163, aimed at improving the pensions of Panamanians who are part of the mixed system, without affecting the solidarity system. The objective of this reform is to establish replacement rates for the capitalization accounts system with solidarity guarantee.
In response to frequently asked questions about how pension amounts and replacement rates will be affected, the CSS has published an explanatory table. It is important to highlight that these changes will only apply to those who are part of the mixed system and will retire in the next 7 years after the law is approved, as well as to new contributors entering the labor market.
It is essential to note that members of the Exclusive Defined Benefit System will not be transferred to this new reformed system. In summary, the benefits established in Law 51 will remain unchanged for this group of pensioners.
