Benefits
Because of the strong retirement lobby by the old folks, Panama has one of the most generous retirement programs offered anywhere. including the U.S. and like Rodney would say, it's nice to have respect. Any qualified foreign resident pensioner of any age (military, government and private sector) or any resident (Nacional or x-pat) 62 or older, (ladies 58), enjoy these benefits.

Is important to the retiree or pensioner present their personal identify document or the document proving their residence in Panama, panamanians or foreigner in the national territory they are fifty-five 55 years old or more, if they are women; or sixty 60 years old or more, if they are male, in the same way all the State and private enterprises who provide services public must have a place or special window to cater for persons referred to in the law, those who have permanent priority in all cases. For an example, when we go the local bank and discover that there are 30 people in line, I hobble (simulated) over to the "Jubilado" (Pensioners) window and get served first unless it is a Panamanian retirement payday.

Between the benefits established by law we have the following:

1- 50% off on the activities of recreation and entertainment, such as cinemas, theatres, sports and other public shows. Here we include the presentation of artists, tickets to museums, shows, plays and the like

2- discounts on public transport rate, which will depend on if it is a bus, boat, boat, or plane.

3- minimum discount hotels, regular price motels and pensions, which will depend on the rate of the day on which it is hosted.

4- 25% off the value of the individual consumption of food, provided that the chosen place to eat is not a fonda

5- 15% discount in establishments of retail sale of fast food, provided they are national and international franchising

6- 15% discount of the total count by hospitals and private clinics.

7- 20% discount the value of medicines in pharmacies.

8- medical services discount, such as: consultation, dentistry and optometry, same that will depend on which of the services described above is used.

9- discount on the payment of premiums on policies of risk for disease, because the insurance company must move to the insured benefit discounts described in points 6, 7 and 8.

10- 20% discount of technical and professional services fees.

11- 20% discount price of all prostheses, as well as all the appliances and accessories help.

12- 50% discount costs or Commission from closing in personal and commercial loan transactions.

13- 15% discount in personal and commercial loans to its name in the maximum rate that the law allows you to collect to financial institutions, such as banks, financial, cooperatives and credit institutions.

14- 1% in the rate of interest on mortgage loans for housing for its own use.

15- real estate tax freeze.

16- release of the valuation fee.

17- 25% discount of the monthly consumption of electrical energy

18- 50% discount tax or rate of airports.

19- the legally established associations, federations and confederations of retirees, properties, will enjoy discounts in the rate of appreciation, tax on property and other benefits granted to non-profit associations, accordance the laws of the Republic.

20- 25% discount of the fixed charge for telephone service.

21- 25% off the rate for water consumption, of public or private entity.

22- 20% discount in the purchase of coffins and urns.

Now, within the designated legal context, sets a series of sanctions to operators who fail to comply with the mentioned discounts, ranging from $50 to $5000 dollars, which admitted to the Special Fund for retirees and pensioners (FEJUPEN); Therefore the ACODECO, who is the governmental authority which protects the consumer, ensures compliance with the law No. 6 of 16 June 1987 and its amendments.

Benefits of applying to a residency in Panama as a retiree are:

Residence of life, Exemption from import by the sending of personal property tax, Car import tax exemption, Discount on all kinds of sector, No fee visa application migration rights, Importation of personal goods

Auto import: the retiree, Annuitant or boarding, shall have the right to import a (1) car from anywhere in the world every 2 years, without the obligation to pay import tax

This makes Panama, one of the best places in the world to enjoy a retirement, since Panama is not only a natural paradise but also a paradise for anyone in the world that want to reward their years of work and effort in a tropical paradise with all the benefits and business opportunities this country offers them.

Communication
When driving into Panama from Costa Rica, the difference is remarkable as Panama has been blessed with very good highways throughout the country. Although semi-remote, Volcan is by no means at the "end of the road" yet sufficiently private to provide quiet and tranquility. The majority of the streets are dirt and more are paved each year as tax funds become available.

The main provider of telephone service is Cable and Wireless Ltd. that provides dial up, unlimited time and limited DSL service in Volcan. The reduced DSL service is because their optic lines only come within a quarter mile and then revert to wire.

For cheap international calls, Skype, a free internet messenger service offers a computer-to-phone service and calls from Panama to the U.S. are only 2 cents a minute and that combined with our wireless system provides an excellent method for making international calls.

There is a radio excellent wireless system being offered by a local company. This is the system we use and provides us with 256K or more depending on the plan. You must purchase the transceiver and be within "line-of-site" of the many repeaters. They are continuing to expand the system to cover ever broader area. Cost covers installation and connection. They also have two cyber cafes and offer international FAX service.

Both Cable and Wireless Ltd and Movistar provide reasonable nation wide cellular coverage. Most units sell for about $30-40 and you can prepay or buy telephone cards.

Besides five local Spanish TV stations (some with SAP) and several FM stations, there is direct TV providing over 70 channels of video (more than half in English), plus 30 music channels. If you're into ham radio, Panama has a reciprocal licensing agreement with the US.

There are a limited number of post office boxes available in Volcan. Mail can be accepted in c/o General Delivery (Entrega General) in your name indefinitely if you advise them you are a resident. Simple address:
Your name c/o Entrega General, Volcan, Chiriqui, Rep of Panama

Although mail service is slow, it is reliable. I have no problems with sending or receiving mail but it does put a new meaning on "snail mail". It normally takes 1-2 weeks. Apparently, small packages can be received. I was surprised the other day when I received a small package. Even after living here many years, this was something new to us.

There are companies providing express mail service through a Miami post office box were you can send your personal mail, packages and books. Delivery is generally 4-5 days.

Banking
Don't worry about changing your money, as the good old American buck is standard throughout the country. Around here, they call it the "Balboa" but it still has George's face on it. They are however, Balboa coins that are the same size, value and metal content as U.S. coins made by the U.S. Denver mint. They work in all US coin operated devices. ATM machines are available throughout the country and Volcan. It is wise to carry a bank debit card instead of traveler's checks. Travelers checks is a dying technology and since ATM's are readably available, one does not have to carry large sums of cash nor be bothered trying to find some one to cash the checks. An easy way to handle your pension is to deposit it in a U.S. bank and access it through the ATM.

Panama has a lot to offer for those with accounts here for several reasons.

1. All national currency is the US Dollar.
2. ATM machines all over Panama that you can withdraw cash from your US account.
3. Panama banks have their own debit card system called "Clave" (key) card and you can withdraw funds from your Panama account in the states.
4. Panama "Clave" debit cards work the same as in the U.S. in stores.
5. Panama does not report your account information to the US. It is up to you to declare the interest.
6. Interest is paid monthly.
7. Any visiting person can open a savings account but must be a resident to open a checking account and provide a letter of reference from a US bank.

The two banks in Volcan are Banistmo that has a web site offering internet account access and payment and Banco Nacional de Panama.