My Secure Retirement: Social Security Fund Digital Tool in Panama
On August 6th last, the Social Security Fund made available to its beneficiaries in “MI CAJA DIGITAL” the functionality ‘MI RETIRO SEGURO’ to digitally calculate and compare benefits which correspond to each particular case, between the Disability, Old Age and Death Risk systems provided for in the Organic Law of the Social Security Fund.
By Resolution No.474-2025-D.G., the Social Security Fund extended by five months the deadline for beneficiaries of the Defined Benefit Subsystem and beneficiaries of the Mixed Subsystem who retire before 1 March 2032 to exercise the option of switching to the Solidarity Capitalization Contributory Component. During the period granted, the beneficiaries may freely and voluntarily change their minds. The maximum extended date for switching to the new system is 18 August 2026.
In accordance with the Unified Text of the Social Security Fund Law, beneficiaries enrolled in the Exclusively Defined Benefit Subsystem may expressly opt to participate in the Solidarity Capitalization Contributory Component, counting with a period of one year from the enactment of the reform of the Social Security Fund Law to exercise their option.
In the same way, beneficiaries of the Mixed Subsystem who retire before 1 March 2032 may expressly opt to participate in the Solidarity Capitalization Contributory Component, counting with a period of one year from the enactment of the reform of the Social Security Fund Law to exercise their option.
The five-month period that it took the Social Security Fund to develop and implement the ‘MI RETIRO SEGURO’ tool cannot reduce nor limit the one-year period for beneficiaries enrolled in the Defined Benefit Subsystem and beneficiaries enrolled in the Mixed Subsystem who retire before 1 March 2032 to exercise their option to switch to the Solidarity Capitalization Contributory Component.