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Many US citizens have their pension sent to Panama, since it will go a lot further there, but no Social Security agreement exists between the countries.
Employers and employees make social security contributions in Panama: the employer pays 10.75% of salaries and wages, plus 1.5% educational tax; the employee pays 7.25% plus 1.25%. The employer deducts the social security contribution along with income tax. The self-employed also make contributions.
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