Panama

Basic country data

  • Population 60 and over (2018)
  • 485,177
  • % of total
  • 11.7%
  • Population 60 and over (2050)
  • 1,334,930
  • % of total
  • 32.1%
  • Does the country have a social pension?
  • Yes
  • Region
  • Latin America & Caribbean
  • Income group
  • Upper middle income

Data on social pensions

120 a los 65

Basic scheme information

Data on social pensions

  • Name of pension or programme
  • 120 a los 65
  • Year first social pension introduced
  • 2009
  • Legislative Underpinning
  • Law 15 of September 1, 2014

2015

Government of Panama: 120 a los 65 (webpage)

Eligibility criteria

2015

Government of Panama: 120 a los 65 (webpage)

Adequacy

  • Monthly benefit (local currency)
  • 120 Balboas
  • US$
  • 120
  • % of GDP per capita
  • 12.2%
  • $ PPP
  • 206.9
  • % of $1.90 poverty line (PPP)
  • 358%
  • Local amount detailed/other benefits
  • 100 a los 70 programme has evolved into 120 a los 65. A monthly amount of 120.00 balboas to adults aged 65 years or more without retirement or pension, and in conditions of social risk, vulnerability, marginalization or poverty.
  • References and notes

2015

Government of Panama: 120 a los 65 (webpage)

Coverage

2015

HelpAge calculation

Cost

  • Total cost (local currency)
  • 136,967,040 Balboas
  • Cost as % of GDP
  • 0.2%
  • References and notes

Resources on the pension in Panama

Social pensions database

Explore the Social pensions database

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