Pensioner Benefits
Raised in Panama
Martin Torrijos,
President of Panama,
announced today new
benefits and retirement
pensions to help the 175
thousand pensioners face
the high cost of living.
In a message to the
Nation, the leader
informed next July a
convertible bond for 60
balboas (dollars), from
a fund approved by the
government, will be
given to these people.
He released the news of
a bill that will be
subject to the approval
of Parliament the 1st of
September, in order to
standardize this bonus
every July.
Torrijos reminded that
the government gives
pensioners a similar
amount every December,
without affecting the
funds in the Social
Security Box.
The second regulation
announced by the
President is to include
10 thousand extremely
poor elders without
social security
assistance in the
Opportunities Net/
The leader stated that
15 thousand elders are
included in the program
that hands 35 dollars a
month to almost 50
thousand poor families
on the condition they
pay attention to their
children’s education and
health.
Torrijos said these
actions will contribute
to mitigate the
purchasing power lost,
consequence of the
increased the family
shopping basket cost,
and, thus, help
pensioners live a decent
old age.
The increase in the
prices of crude oil and
food in the
international market,
which has become a world
crisis, affects
everybody but especially
the poor, said the
President, and the
government took some
steps to help soothe its
impact.
Among the governmental
measures, he mentioned a
subsidy for almost 41
million dollars to keep
immutable the electric
bill of those who
consume up to 500
kilowatts a month, 90 %
of the total.
He added, other
subsidies keep the price
of the 25 pounds gas
cylinder in 4.37 dollars
and public
transportation tickets
in 25 cents, among other
measures that favor the
purchase of low-price
houses.
He also mentioned, as
one of the results of
these measures, to have
saved the Social
Security Box from
bankruptcy and denied
versions that this and
Public Health-Care
Services are to become
private.
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