Sorry I'm sure "oldies" isn't the appropriate term for anyone in or approaching retirement but I can't bring myself to say "seniors". It's a bit American and forever associated in my mind at least with the phrase "senior moment". Anyway I just published an article entitled The Many Advantages of Growing Older in Spain and the bus pass gets a mention. The idea of the article is to list some of the discounts you can get as you grow older in Spain, like the famous pensioners' bus pass in Britain. Spain have equivalents of course and they can be used for a wide range of things aside from bus travel, such as discounted activities (wine-tasting anyone?) , cheap spectacles and lower entry to museums and events. The main train company Renfe offers a "Tarjeta Dorada" to the over-60s which offers discounts of up to 40% on it fares. Get the card at any main station for 5€ on presentation of a NIE or residencia. For details of this and other benefits including weblinks see the main article.
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