The government has acknowledged that it should not have deducted that part from personal savings, as 5% represents a significant amount of money. Dr. Yarelis Rodríguez pointed out the importance of finding ways to recover funds that have been evaded over the years and ensuring compliance with the collections.
In an extensive session marking the beginning of the third block of reforms to the Social Security system in Panama, the Retirement Age was discussed, with prominent interventions. Veteran deputy Benicio Robinson expressed the PRD's opposition to raising the retirement age, arguing that there is confusion on the topic. Retirees met with authorities from the National Assembly and received support for their request to increase B/.10.00 annually starting in June 2025, including for survivors.
The Deputy Ministers of Health and Economy and Finance were present in the assembly, as well as the Director of the Social Security Fund (CSS). The transfer of 5% of personal savings to a solidarity system was discussed, which did not directly benefit the individual in question but was part of a defined benefit system.
The third block of reforms to project 163 began with the discussion of Retirement Age, which involves the pension system and the model proposed by the Executive, along with modifications proposed by deputies. The Executive's project introduces a unique system of solidarity capitalization that would guarantee pensions with a replacement rate exceeding 60% of the contributions made, according to the director of the CSS, Dino Mon Vásquez.
A situation of retirees living on subsistence was raised by a group of deputies led by Dr. Ernesto Cedeño, requesting modifications. In 2005, a reform was made that involved deducting 5% from the personal savings of a large number of people, a fact that was not fully understood.
