Panama has published Law 462 of 18 March 2025 in the Official Gazette, which introduces reforms to the country's social security system. This includes, among other things, an increase in the social security contribution due by employers in stages from 12.25% to 13.25% effective 18 March 2025, to 14.25% effective 1 March 2027, and to 15.25% effective 1 March 2029. The employee contribution remains at 9.75%.