El único Panamá - Week 24

Welcome to our weekly series about the uniqueness of Panama!

Photo: CNN Money

Panama is one of a kind when it comes to retirement and benefits.

Its retirement program offers men aged 60 and over, and women aged 55 and over who are pensionados or have a pensionado visa various benefits.

Panama offers these benefits and many more to all retirees, both Panamanian and foreign.

• 50% reduction in home loan closing costs • 10% discount on prescription medications • 20% off on visits to the doctor and surgical procedures • 25% discount on electricity, water and phone bills every month • 25% discount on domestic and international flight tickets. However, this doesn’t apply to all ticket categories, meaning retirees may be able to buy airplane tickets cheaper than the discounted price for which they are eligible • 15% discount on dental procedures • 25% discount at restaurants. However, not all restaurants and hotels – especially smaller establishments – are happy to offer this discount • 15% discount on ophthalmic services • 30% discount on train, bus and boat fees • 15% discount at fast food restaurants • 50% discount on entertainment, which includes sports events, movies, theatre and concerts • 50% discount at hotels from Monday through Thursday, and 30% discount on weekends • Special express lines for retirees at all banks in Panama