Bill 746 Approved in First Reading: Discounts for Retirees and Pensioners in Panama.

Bill 746, which includes new benefits and discounts for retirees, pensioners, and senior citizens in Panama, was approved in its first reading by the National Assembly’s Committee on Labor, Health, and Social Development, chaired by Representative Crispiano Adames Navarro. Its proponents aim to complete the legislative process for the bill before October 31, 2026.

The approval in the first debate came after making modifications to the document, removing some articles and incorporating new provisions.

What benefits does Bill 746 offer to retirees and pensioners?

Deputy Crispiano Adames explained that an executive technical committee was established to evaluate the proposals and reach agreements with different economic and social sectors.

According to the parliamentarian, the project includes exemptions, reductions and discounts intended to facilitate the acquisition of medicines and other goods by people with limited purchasing power, in addition to a compensation mechanism.

For his part, Guillermo Cortés, leader of the World of Retirees Movement, emphasized that the initiative seeks to benefit senior citizens in general and not only retirees and pensioners.

Cortés also noted that the modifications seek to address the concerns of small businesses through provisions that would allow them to deduct certain expenses in their tax returns.

When will the law on discounts for retirees be approved?

The project must continue its process in the National Assembly, including the second debate, before a possible final approval.

The proponents of the initiative hope that the document will complete the remaining debates and can be sanctioned and promulgated no later than October 31, 2026, although this date constitutes a goal and not a confirmed approval.

Deputy Javier Sucre , the project’s proponent, stated that the initiative seeks to supplement the low pensions of senior citizens and estimated that it could represent $270 million in annual benefits.

Sucre also expressed his expectation that the project would move forward to its final approval within the proposed timeframe.