Why is Panama so popular with retirees?
The low cost of living, access to relatively inexpensive, high quality medical care and enviable climate are three reasons. Another is the “pensionado” program. It sounds like something for the elderly, but , anyone over the age of 18 may apply and can qualify as a pensionado in Panama. All you need is a guaranteed pension income of $500 per month ($600 for a couple). It must be a pension from a government agency (e.g. Social Security, disability, armed forces, etc.) or a defined-benefit pension from a private company. Sorry, but an immediate, fixed annuity doesn’t qualify.
