The president of the Federation of Chambers of Commerce of the Republic of Panama (Fedecámaras), Alicia Jiménez, expressed her concern regarding the pension system in Panama. She pointed out that if no measures are taken, many people will continue to aspire to retirement at 65 years old without having contributed to the system, which represents a burden for contributors.
Jiménez emphasized that it is essential to implement changes to ensure the financial sustainability of the Social Security Fund (CSS), considering its high deficit. In this context, she highlighted that increasing the retirement age is a key measure for the CSS to regain the financial balance it has lost.
The president of Fedecámaras also mentioned that the government has had to request $91 million to cover the system's deficit in February, a figure expected to increase in March, raising concerns about the long-term viability of the CSS.
Regarding the possibility of gradually increasing the retirement age, Jiménez indicated that this could be a viable option if actuarial studies are conducted to assess its impact on the budget. Another critical aspect of the debate is the incorporation of informal workers into the CSS system, which raises questions about how it would affect micro and small businesses in the country.
Alicia Jiménez expressed her disagreement with the president's stance regarding the bill for reforms to the CSS and stressed the importance of an open debate without impositions. She pointed out that the business sector has accepted the 3% increase in the employer's contribution, but insists that this should be gradual and differentiated according to the type of business.
Regarding the current proposal, which stipulates a contribution of 8.5% with a base salary of $800, Jiménez raised doubts about its viability in the context of informal work, warning that it could exclude a significant part of the population instead of promoting their inclusion in the system. Additionally, she highlighted the need to incorporate independent workers, such as taxi drivers and transporters, who currently do not contribute.
