Discount Bill for Retirees Passes Third Debate. 

Bill 746, which modifies Law 6 of 1987, passed its third debate in the National Assembly (AN) and is one step closer to becoming law. This new bill seeks to expand benefits for retirees, pensioners, and the elderly.  The project, presented on October 6 of this year by Deputy Javier Sucre, of the Democratic Revolutionary Party, passed its three debates in less than a month.  The initiative, now in the hands of President José Raúl Mulino , has been applauded by retiree leaders, but has also faced criticism from other sectors.

“Today we are serving our country”, said Representative Javier Sucre, after the proposal received the support of the full legislature.

Bill 746 is a second attempt, as President Mulino vetoed Bill 226, which also amended Law 6 of 1987, in its entirety, deeming it inappropriate and unconstitutional. According to the first debate report, the new version incorporates the observations from that veto and the agreements reached in several technical working groups.

Some of the proposed changes to Law 6:

Medicines 20% (although some pharmacies already give a higher discount)

Adult disposable diapers 20% (which are also exempt from the ITBMS)

National and international restaurants and franchises (up to) 25%

Benefits for the purchase of wheelchairs, walkers, beds, mattresses, and portable toilets

30% discount to procedures, therapies, cancer medications, and supplies for cancer treatment.

General and specialist consultations 25% discount

Laboratory tests 20%

Radiology services 30%

Optometry and ophthalmology services 15%.

Coffins and funeral services 25%

Residential sanitation fees 20%

Businesses must display both the regular price and the discounted price together. and they will still be able to deduct discounts from income tax, as is the case today.

The Consumer Protection and Competition Authority (Acodeco) may impose fines for non compliance, ranging from $50 to $5,000, which will double with each repeat offense and will be allocated to the Special Fund for Retirees and Pensioners.

The benefits apply to women from the age of 55 and to men from the age of 60, whether Panamanian or foreigners with permanent residence, and to all retirees and pensioners, regardless of their age.

The Executive now has 30 business days to approve or object to the project.

If it becomes law, it will come into effect six months after its publication in the Official Gazette.