Friday, May 18, 2018

It is about time! Pension Plan for Farmers and Fishermen

The average age of the Filipino farmer is said to be 57 years old. That is 8 years away from the retirement age of most government and private sector workers. Unfortunately, the majority of Filipino workers are agricultural workers. They are farmers and fishermen that comprise 60% of the Philippine population that is located in rural areas.

Acknowledging this state of affairs, the Department of Agriculture (DA) is crafting and implementing a pension scheme for farmers and fishermen. According to DA Secretary Emmanuel Pinol, the Philippine Crop Insurance Corp. (PCIC) is planning a pension program that will benefit the agricultural sector.

“I have always emphasized that while government workers have the Government Service Insurance System and private company employees and self-employed workers have the Social Security System, farmers and fishermen are not covered by any pension fund,” Secretary Pinol said.

The PCIC is preparing a proposal of the pension fund to Congress so that legislation will be given with regards to the pension plan. It is initially called the Farmers and Fishermen’s Pension Fund (FFPF). This will enable farmers and fishermen to retire because of their advanced age.

Aside from a pension plan, health and accident insurance, crop insurance will also be part of the pension and insurance plan.

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The Mail Man

Author & Editor - The Philippines' Web Magazine on Agriculture.

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