Panama has published a law expanding discounts for pensioners and older adults, covering health expenses, assistance equipment and other household costs. The changes take effect six months after publication.
President José Raúl Mulino signed Law 562 on November 2. Its publication in the Official Gazette that day completes a further step beyond the Assembly’s October 30 approval.
The reform updates Law 6 of 1987, Panama’s longstanding framework of benefits for retirees, pensioners and older residents.
It establishes a 20% medicine discount, with a prescription in the beneficiary’s name except for over-the-counter products. Other provisions cover medical consultations, diagnostic services and cancer treatment.
The Presidency highlights additional support for wheelchairs, prostheses, walking aids, hospital beds and specialized mattresses. Funeral services, adult diapers and certain housing-related expenses are also included.
The published text makes eligibility particularly important for international readers. It covers Panamanian retirees and pensioners, and Panamanians aged at least 55 for women or 60 for men. For foreigners with permanent residence, it specifies ages of at least 57 for women and 62 for men.
Some benefits carry additional conditions concerning the account holder, principal residence, medical certification or spending limits.
The law also strengthens enforcement. Acodeco can impose fines from $50 to $5,000 for refusing applicable benefits, with repeat violations attracting increased penalties.
The new provisions do not begin immediately. Article 10 establishes a six-month interval after promulgation, placing implementation in May 2027.
The signing follows discussions involving pensioner representatives, business organizations, lawmakers and government officials. For beneficiaries and businesses, the published law is now the reference for preparing for the expanded scheme.
Sources: Official Gazette, Presidency
