Tuesday, February 14, 2012

Farmers’ pension scheme revised

By Pabodha Hettige

Plans were afoot to revise farmers’ pension scheme to address their grievances due to its suspension since September, last year, General Manager of the Agriculture Insurance Board, Panduka Weerasinghe said

"The new scheme will be introduced in collaboration with the Social Security Board, where the farmers would be able to select the pension scheme they like," he said. The proposed scheme would be presented to the directors of the Agriculture Insurance Board for approval on Wednesday (15) before it is gazetted.

Farmers’ pension scheme was first introduced in 1985 with a pension of Rs. 200 per month. Later it was increased to Rs, 500 and Rs. 1000 respectively. Since 1994 the farmers had been paid Rs. 1,000 and the board had had to depend on the Treasury heavily for funds since August 2010.

http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=45239

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