Panama Approves Fund for Low-Income Retirees

Panama's Economy Committee approved a bill in its first reading to create a fund for retirees earning less than 600 balboas a month. The initiative was proposed by Deputy Graciela Hernández. It is estimated that approximately 95,000 citizens will directly benefit from this measure, which will also have a stimulating effect on the national economy.


Panama Approves Fund for Low-Income Retirees

The Economy Committee of the National Assembly of Deputies approved in its first debate the bill that promotes a fund for adjustments to retirees who receive less than 600 balboas. The proposal, led by Deputy Graciela Hernández, suggests that the funds would be managed through the Social Security Fund and the Comptroller General's Office, entities that would be in charge of the payments. The fund would be established as a state assistance instrument aimed at this sector. The document indicates that it is a universal social policy, focused on retirees and pensioners, taking into account the economic vulnerability the country is currently facing. Figures indicate that around 95 thousand Panamanians who are currently below the 600 balboas mark would fall into this benefit group, which would also translate into an economic injection. During the session, the report on bill 500 was also received, which aims to strengthen the collection of the ITBMS through the traceability of electronic payments, in addition to consumer incentives and citizen participation.

Latest news

See all news