Where can your pension take you?
Compare 20+ destinations across cost of living, healthcare, climate, and visa-friendliness — then run our wizard to find your personal top match.
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Central Valley (Atenas) is the cheaper of the two: about $1,800/month for one retiree versus $1,900 in Panama City, a gap of $100/month (2026 editorial estimates). The main retiree route is the Pensionado Visa (from $1,000/month) in Panama and the Pensionado Visa (from $1,000/month) in Costa Rica.
| Panama City, Panama | Central Valley (Atenas), Costa Rica | |
|---|---|---|
| Monthly budget — single | $1,900 (Numbeo) | $1,800 (Numbeo) |
| Monthly budget — couple | $2,700 | $2,500 |
| Rent (one-bedroom, single budget) | $1,000 | $800 |
| Main retiree visa | Pensionado Visa | Pensionado Visa |
| Minimum income | $1,000/month (Servicio Nacional de Migración de Panamá) | $1,000/month (Dirección General de Migración y Extranjería (Costa Rica)) |
| Path to permanent residency | Permanent residency or naturalisation application possible after 5 years | Permanent residency after 3 years; citizenship after 7 years |
| Foreign pension tax | Not taxed | Not taxed |
| Healthcare rating | 8/10 | 8/10 |
| Safety rating | 7/10 | 8/10 |
| Visa friendliness | 10/10 | 9/10 |
| Climate | tropical | mountain |
| English | Common in cities | Common in cities |
| Expat community | Large expat community | Large expat community |
| Last checked | Jul 5, 2026 | Jun 27, 2026 |
How to read these labels: Official requirement restates a rule published by a government authority; Editorial estimate is our 2026 budget model for one retiree; Editorial summary condenses official tax rules; Editorial rating is our 0–10 score. “Checked” is the date our editors last reviewed the figure. Rules change — confirm with the authority before you apply. Full methodology
Tax in Panama: Territorial system: foreign-source income such as pensions and dividends is not taxed.
Tax in Costa Rica: Only Costa Rica-sourced income is taxed; foreign pensions are not.