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Panama’s Pensionado discounts are one of the many ways you can live better for less in Panama. These discounts are available to all Panamanians who meet certain age restrictions. If they are female, they must be 55, and if they are male, they must be 60. Pensionado discounts are also called Jubilado discounts.
Once you have a permanent Pensionado visa, foreigners can take advantage of the discounts listed below regardless of their age.
If you have any other Visa, you must have a permanent visa and meet the age requirements to get the Pensionado (Jubilado) discounts.
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Panama’s Pensionado Discounts
The discounts and advantages of the pensioner’s visa are quite numerous. Look at all the ways you can save money:
- 50% off on recreation and entertainment such as movies, theaters, sports, etc.
- 50% off hotels Monday through Thursday (30% off on weekends)
- 50% off passports
- 30% off public transportation like buses, trains, and boats
- 25% off airfare to anywhere in the world!
- 20% off restaurants (15% off fast food)
- 25% off electrical, telephone, and water service
- 20% off doctors and specialists
- 20% off prosthetics and other personal assistance devices
- 15% off hospitals and private clinics
- 15% off dental and optometry services
- 10% off prescription medications
- tax-free importation of household goods, up to $10,000
There are many reasons to consider Panama as a place to relocate to. The Pensionado discounts are certainly one of them!
How to Qualify for the Discounts
To qualify for the Pensionado discounts, you must have a permanent residency visa. To get the Pensionado Visa, you will need $1000 per month in lifetime income, like a pension, or $1250 if you are married and applying for a visa together.
If you get one of the other visas, like the Friendly Nations Visa, but you will need to meet the age requirements and have a permanent visa to qualify for the Pensionado discounts.
You qualify for the discounts only after you get your permanent Visa.
However, if you have grey or no hair, you are usually given the Pensionado discount without asking at pharmacies.
At other places, you may need to ask for a discount, or they will ask to see your permanent Visa card or Cedula (national ID card) to verify your age and qualifications.
To get the 25% discount on utility bills, the utility will need to be in your name, and you will need to show your Visa card when you apply for service. Remember that your water bill is only $100 a YEAR, which is probably much less than what you pay now. I get 25% off my electric bill too. Because I live in an area where I don’t need air conditioning, my electric bill is usually less than $25 per month. If you live near the coast where you need air conditioning, the savings can really add up.
I save about $600 annually on airfare using my Pensionado discount. You can get a discount on any airfare originating in Panama. It’s easier to work with a Panama travel agent than to contact the airline. The travel agent will request a copy of your permanent Visa. You cannot get the Pensionado discounts with just a temporary Visa.
Within a few years, the Pensionado discounts could basically pay for the cost of getting a Visa!
How to Get a Pensionado Visa?
The process of applying for and obtaining a Visa is relatively easy. You will need a Panamanian attorney to guide you through the whole process. You will need a national criminal report and proof of lifetime income if applying for the Pensionado Visa. You must be in Panama for about 5 business days to get your temporary visa; then, about six months later, your permanent visa will be ready.
Immigration lawyers charge between $1200 to $2000 to get a Pensionado visa, depending on which lawyer you use. During the Panama Relocation Tours, you will meet reliable and affordable Panamanian lawyers who have helped many of our tour clients get their visas quickly and easily.
IT ADDS UP – A LITTLE SAVINGS HERE AND A LITTLE SAVINGS THERE
Occasionally, I have had trouble getting a discount at hotels. But being persistent will usually get me a discount.
Be aware that some restaurants play tricks by advertising their regular price and then their special price next to it to avoid giving the Pensionado discount. The discount does not apply to specials. Other restaurants honor the Pensionado discounts. There are many different restaurants to decide who you want to give your business to. Restaurants are only required to offer a Pensionado discount on your entree, not on your entire bill.
Who Pays for the Discounts?
These discounts come right off the profits for these businesses. They are not reimbursed by the government or anyone else. So, be selective when asking for Pensionado discounts.
I never ask for a Pensionado discount when I go to a Mom & Pop-type restaurant where the whole meal is only $5.00. The meal is so affordable already. Be selective about asking for the Pensionado discount.
WatchDog
ACODECO is Panama’s Consumer Advocate organization. If any establishment refuses to give a Pensionado discount to someone qualified and can prove it, then you can report them to ACODECO, who will fine the company.
Just mentioning ACODECO will usually get you the discount you are eligible for.
Live Better for Less in Panama!
Come see how amazing life is in Panama!
Even without the Pensionado discounts, the cost of living in Panama is lower.
Join us for an all-inclusive 6-day, 7-night Panama Relocation Tour to discover the perfect place to live in Panama. You’ll learn how to move to Panama the RIGHT WAY! S Since 2010, Panama Relocation Tours has helped thousands of people discover how they can live better for less in Panama. We have the experience you can trust!
Or, check out the Online Panama Relocation Guide! It has all the information you need for a smooth, hassle-free move to Panama. The Online Guide has a list of affordable immigration lawyers, honest real estate agents, fantastic insurance brokers, car brokers and everything else you need to know to move to Panama.
Thanks a lot very useful information. As because of Covd-19 we are not progressing wirh our application and are still in Europe waiting for the country to reopen, could you advise if it would be recommendable to start the process of aplicaiton for the reitrement visa by mailing the oridinal apostiled docs in Spainsh to a lawoffice? Or do you need to be in physically the country?
because the documents you need to get a Visa are time sensitive, it would be better to wait until Panama’s borders open to start gathering the documents and the application process.
Ola! Are the tours currently on hold until the borders reopen? I’ve made up my mind to retire there. I would like to take the tour next summer 2021. I teach school so want to get through the year, then will need to quarantine I’m sure if I’m even allowed to come in to Panama. Since I have all summer off it would seem to be a good time for the tour. Thanks so much.
Panama’s borders open October 12th. But our tours are on hold until we determine that it is safe to do a tour again and that we can reserve hotels and restaurants. We are probably going to start doing private tours before we start doing group tours again.
A question on obtaining travel benefits via the Pensionado program:
In the above article, it states: “You can get a discount on any airfare which originates in Panama but you will need to work with a travel agent. The travel agent will request a copy of your permanent Visa.”
Are the pensionado discounts “only” available through travel agents? Or can one work directly with the airlines, particularly the Panama-Based airlines?
And, am I correct in assuming that one must work with a Panamanian travel agency only, to receive the pensionado discounts? I don’t imagine a US travel agency would know a thing about them.
Many thanks for your help. The Guide is an INVALUABLE resource! Wish we had discovered much, much earlier — it would have saved us LOTS of money on residency.
the travel agent needs to be a travel agent in Panama
The airlines will not work with you unless you are calling from Panama, on a Panama cell phone, and calling their Panama office — usually ONLY in Spanish.
You’ll have to fax (not email) a copy of the front and back on your credit card, front and back of your visa or cedula.
It’s much easier to use a Panama travel agent.
Hi Jackie,
I wish that I had found your Website earlier since most of the expats here in my region don’t share information.
Now, I am aware of the Pensionado benefit due to your Website. Greatly appreciated.
Could you please tell me whether:
– there is any discount for home internet service
– airfare discount applied only to Panama based airline or to other airlines like Turkish Air?
Best regards,
Isa
Hello Isa. The Pensionado discounts do not apply to internet service. The discounts do apply to any airline, including Turkish Air. The best way to get the discount for airfare, is to contact a Panamanian based travel agent.
Hello Jackie,
Due to contractual obligations and debts of my business, I could not retire until the end of 2024. We currently live in Phoenix AZ, but of Latin American descent (fluent Spanish)
We have done a lot of research and Panama (Boquete and surroundings) is first on the list.
My question is how far in advance it would be necessary to obtain the online guide to start all the paperwork and if the guide provides the same information that would be obtained by doing the tour.
Thanks.
Thanks for your interest in the Complete Panama Relocation Guide. It does contain the same information that you’d get on a tour minus actually seeing the various areas, seeing rentals, and meeting expats who live in the area. We keep the Guide updated often, so you can buy it now so you can start learning immediately. If there are changes to the information, you’ll get an email with details.
When it comes to discounts involving the government, as in those for importation of household goods, or an auto, there seems to be a “bait and switch” going on. I am importing household goods and an automobile. I’ve engaged an agent to receive these.
It seems Customs hasn’t heard about anything going on in the rest of the government. I have a Pensionado Visa and have been here a year.
Now Customs wants me to “re prove” my status, my pension,etc. Seems the Panamanian government doesn’t believe it’s own paperwork!
Timothy. Sorry to hear about your problems. If you used the international movers we recommend you would not have these problems. They have moved hundreds containers of household goods to Panama and never ever had a problem.
Are you located in USA or PTY?
And what is your WhatsApp number.? To speak with you directly.
Thank you
Harry
Our administrative offices are in Texas. Jackie, the owner of Panama Relocation Tours, lives in Panama. You can reach us at 972-496-4500 (not whatsapp)
I intend to retire in Panama and want to start my retirement visa process as soon as possible. I need a lawyer and a list of paperwork and the best order in which to take each step.
Thankyou
Great! You can find that information in our Complete Panama Relocation Guide.
I am 73 years old
Can I get health insurance
Hello Leonard. You may be able to get health insurance if you do not have any pre-existing conditions
See health insurance options at
https://panamarelocationtours.com/health-insurance-options-in-panama
Jackie,
My wife and I are looking to moving late this year or early in 2026. She works part-time and has her own business. I get SS and I work part-time as a bookkeeper. She is 59 and I am 70. We are drawn to Panama City because of the cultural richness of the various neighborhoods. I speak Spanish (grew up in New Mexico and studied it in high school and college). I also have a MBA. How difficult is getting the Pensionado visa? From what I have read, most of the work is best done by a Panamanian lawyer, correct? If I wish to teach, is it difficult to get started?
Hello Charles. If your Social Security is at least $1250, you and your wife can get a Pensionado visa. Most work is done by Panamanians and many jobs are a protected profession for Panamanians only. You and your wife could still have an online business serving clients outside of Panama. See this FREE Move to Panama Cheat Sheet
https://panamarelocationtours.com/lp-cheat-sheet