New pension scheme for farmers in the offing

Parliamentary corrs

A new pension scheme will be introduced for the benefit of farmers and agricultural labourers through the Citizens Pension and Insurance Fund (CP & IF), the Government told Parliament yesterday.

Finance and Planning Deputy Minister Geethanjana Gunawardena in response to a question raised by UPFA member Mohan de Silva said that the proposed new pension scheme would include more benefits to pensioners.

The Deputy Minister said increasing the current pension paid to farmers upto an amount which is sufficient to meet the prevailing cost of living is under consideration. The current farmers’ pension scheme was implemented under Act No 12 of 1987 to grant a monthly pension to farmers whose main livelihood is agriculture and agricultural labourers who are 60 years.

A total of 80,814 farmers obtain the farmers’ pension upon completion of 60 years.

“Farmers and agricultural labourers who contribute to the pension scheme are currently entitled to a monthly pension ranging from Rs 1,000 to Rs 4,166,” he said.