The Pensianado program in Panama is probably one of the best reasons to retire in Panama. Simply put, the penisanado program is designed with retirees in mind.
Panama currently has the best retirement program anywhere in the world. The rules are very simple; to qualify, you must be over 18 and have a guaranteed pension income of $500 per month for an individual or $600 for a couple. Qualifying pensions are those from a government agency, including Social Security or military retirement, or a defined-benefit pension from a private company.
What You Get with Pensianado Program
As a pensionaer in Panama, you are entitled to enormous financial benfits, including:
- 50% off entertainment anywhere in the country (movies, theaters, concerts, sporting events, etc.)
- 30% off bus, boat, and train fares
- 25% off airline tickets
- 50% off hotel stays Monday through Thursday, 30% off Friday through Sunday
- 25% off restaurant meals
- 15% off at fast-food restaurants
- 15% off hospital bills if uninsured
- 10% off prescription medicines
- 20% off doctors’ consultations
- 15% off dental and eye exams
- 20% off professional and technical services
- 50% off closing costs for home loans
Add in the low cost of living and affordable real estate, and Panama is a haven for retirees.