Draft bill 443.

Summary.

The draft bill adds benefits to Law 6 of 1987 for retirees, pensioners, and older persons. It proposes a 40% discount on residential broadband internet and personal mobile data plans, limited to one contract per beneficiary. It also prohibits banks and government entities from charging people covered by the law fees for transfers, online banking services, or digital procedures. Internet providers would offer digital literacy programs to help retirees access online procedures. Commercial establishments would apply a 25% discount to the purchase of one computer or tablet every three years.

On health care, the text provides that, if the Social Security Fund (Caja de Seguro Social) or the Ministry of Health (Ministerio de Salud, MINSA) does not have a prescribed medicine on the basic medicines list, a beneficiary could obtain it at any private pharmacy nationwide with a copayment of $0.00. The State would establish, through regulations, the procedure for reimbursing those pharmacies. The bill also proposes a basic nutritional food basket and a discount of 10% to 15% on a specified list of nutrient-dense foods, including proteins, fruit, and vegetables, in supermarkets, in addition to their regular offers.

For housing, the draft bill grants a 100% exemption from real property tax for a home that constitutes a family tax asset or the principal residence of a retiree, pensioner, or older person, regardless of its cadastral value. It also establishes a 20% discount on cement, steel, roofing, pipes, and electrical materials used exclusively to repair, adapt, or maintain the beneficiary’s principal residence. The adaptations mentioned include ramps and grab bars. The benefit would be subject to an annual cap set by the Ministry of Housing (Ministerio de Vivienda).

For credit, it sets a maximum annual interest rate of 5% on personal and consumer loans granted to beneficiaries by banks or finance companies. It prohibits handling fees or life insurance charges exceeding the technical premium set by the Insurance Superintendency (Superintendencia de Seguros). Article 10 contains one provision stating that retirees’ indebtedness must not exceed 25% of salary and another declaring free use of the Panama Metro and the MiBus mass transit system for Panamanian citizens or permanent residents over 70 years of age. The text provides that the law would take effect on the day following its promulgation in the Official Gazette and declares it a matter of public order and social interest.

The draft bill concerns the Social Security Fund, the Ministry of Health, the Ministry of Housing, and the Insurance Superintendency. Its provisions could interest or affect retirees, pensioners, and older persons, as well as internet providers, technology retailers, banks, government entities, pharmacies, supermarkets, construction suppliers, finance companies, and transport operators in Panama.