The Authority for Consumer Protection and Defense of Competition (Panama) processed nearly 500 formal complaints last year. These cases involved businesses failing to provide legally mandated discounts to senior citizens, retirees, and pensioners. The agency, known as ACODECO, is enforcing a decades-old statute designed to protect this vulnerable demographic.
Official data from the agency’s Investigation Department breaks down the 498 irregularities. The most common violation, with 138 instances, involved lenders not applying a special reduced interest rate. Restaurants accounted for 118 complaints for refusing to grant the required 25 percent discount on meals. Another 93 establishments were cited for not posting visible signage informing customers of the available benefits.
ACODECO’s director general emphasized the law’s non-negotiable requirements for businesses operating in Panama. The official stressed that compliance is a legal obligation, not a voluntary courtesy.
“The institution will continue to monitor compliance with this law, whose objective is to guarantee preferential treatment and mandatory discounts for this group of the population,” stated the ACODECO director. [Translated from Spanish]
Enforcement actions followed the investigations. Authorities imposed 63 first-instance sanctions against non-compliant companies in 2023. These fines totaled $27,460 for breaches of the Law 6 of 1987 (Panama). The statute specifically outlines discounts for sectors including food service, air transport, and financial loans.
How ACODECO Investigates Senior Discount Complaints
A standardized process begins each time a citizen files a formal grievance. Agency inspectors draft a report and forward it to the Verification Department. Officials then conduct unannounced inspections at the accused establishments. Inspectors confirm the lack of posted signage or review transaction records to check for applied discounts.
Verifying a violation leads to an official report. The Authority for Consumer Protection and Defense of Competition (Panama) then initiates a punitive administrative process. Other common violations last year included 59 cases of denied preferential loan interest and 23 failures to apply a 15 percent discount at fast-food outlets.
The agency also clarified the law’s limits. Many complaints last year concerned discounts on services like cable television or internet packages. Officials note these benefits are not covered under the existing legislation. Their focus remains on enforcing the written mandates for physical goods and specific services defined decades ago.
This ongoing enforcement highlights a broader global commitment to Consumer protection for elderly populations. Panama’s law provides a concrete framework. The recent data shows both persistent non-compliance and consistent regulatory oversight. Consumers are actively using official channels to report problems they encounter in the marketplace.
For Panamanian seniors, the message is clear. The law entitles them to discounts. They should demand them. For businesses, the financial risk of ignoring the law is now quantified. Hundreds of inspections and tens of thousands in fines demonstrate the agency’s active role. Vigilance continues as the agency works to ensure equitable treatment for a growing segment of the national population.