Panama Moves Away From Fiscal Risk With Pension System Reform According To The Bank Of America -

(MENAFN- Newsroom Panama) Bank of America (BofA) issued an analysis of the approval of Law 462, which reformed the Social Security Fund, in which it expressed optimism about Panama's fiscal and economic outlook. They explain that the reform, which merged the previous pension systems-the pay-as-you-go and the mixed pension systems-into a new unified capitalization system with a joint guarantee, allows the Social Security Fund (CSS) to use accumulated surpluses to cover the deficits of the old system, something that was previously impossible due to the segregation of funds.

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