Nanette Witmer writes for International Living about our cost of living here especially for retirees.

Many people don’t realize that Panama’s famous Pensionado discounts are given to all who qualify by age—expat or Panamanian. When women reach the age of 55 and men 60, they are entitled by Panama law to receive the benefits referred to as “descuento para jubilados” (retired discount).

Age in Panama is revered. Help and priority are given to older citizens. Panamanians look forward to taking part in the program and receiving preferential treatment and discounts. To receive the discounts allowed under the program, just present your permanent cedula (residency card) and graciously ask for a “descuento para jubilados.”

Back in Denver, I used to dread getting my monthly electric bill which would average over $100. It’s a different story here in David, Panama, where it’s rarely over $18. Signing up with the electric company to get the discount was easy. I simply showed my residency card, which shows my birthdate, and grants me the 25% discount off my bill.

I’ve also made use of the 15% discount for services provided in hospitals and private clinics. A routine $50 office visit to my doctor is reduced to $42.50. Several doctors here in David speak English and always give you their full attention during your visit.

Since I wear glasses, I always make use of the discount for my optometric exam and my glasses that I buy, usually every two years. My glasses and visit come to around $450 with my discount.

The same discount of 15% is applied for my dental cleanings and dental work. My cleanings run $40 and fillings I have had done were $90. On the rare occasion that I need a prescription filled I always get a discount of 10% at any of the pharmacies. Just a tip to throw out, you can also get a discount on many over-the-counter items at the pharmacies like aspirin, heartburn pills, and those types of things. It never hurts to ask.

One of the discounts I regularly take advantage of is when dining out. At sit-down restaurants, if I order a full meal, I can get a discount of 25% (there’s no discount on beverages). One of my favorite places to dine in David is El Fogon where my favorite rice with shrimp dish is $9—thanks to my discount I only pay $6.75.

If you’re purchasing a meal at a fast food restaurant, the discount is 15%. At a local Burger King, a burger, fries, and a drink which will normally cost $5 is just $4.25 for me.

Make sure you request the discount when you are asking for your bill—and make sure the tip you leave is based on the full amount of the bill before the discount.

You can also make use of your discount for travel. In September I saved 25% with my airfare discount on a ticket to Florida. Flying Copa Airlines (Panama’s flag carrier) from Panama City to Tampa I only paid $381.28 round-trip for the three-and-a-half-hour flight.

To get discounts for flying you must either go to a travel agent or visit the office of either Copa Airlines or Air Panama. Booking directly at local offices allows them to check your residency card to see if you are entitled to the discount. On this trip I saved just over $100.

During the summer months, I occasionally like to go to the beach and stay with friends. When I do, I always make use of the discount at hotels of 50% off their rack rate by staying during the week Monday through Thursday. (Weekend discounts are less at 30%) When I stay at Las Olas Beach Resort during the week, I only pay $50 a night. That’s for a second-floor room with a veranda that overlooks the ocean. You can’t beat that for value.

So, as you can see, it pays to retire in Panama.