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Beef retirement scheme worth less than 30,000 per farmer

18 March 1998
Beef retirement scheme worth less than £30,000 per farmer

By FWi staff

FARMERS will be paid less than £30,000 each to get out of beef production, it was revealed this morning (Wednesday).

A Government consultation paper released today states farmers will receive a lump sum of £11,240, plus £703 per hectare, under a proposed early retirement scheme to restructure the UK beef industry. But a ceiling has been set at £28,100.

Farmers can choose to take the money on an annual basis, however. This option pays an annuity of £3,747, plus £234 per hectare. But state retirement pension payments will be reduced if necessary to ensure that no farmer receives more than £9,360 a year.

Under European Union rules, the early retirement scheme will be available only to farmers who are more than 55 years old. Applicants must obtain at least 50% of their income from farming and must have been involved in beef production for at least 10 years.

Employees who have worked full-time on the same farm for at least two years will also qualify for an maximum early retirement payment of £7,025 (lump sum) or £2,342 (annuity). But they must be more than 55 years old and have spent the last five years as a farm worker.

Ministry of Agriculture officials have invited comments from farmers representatives before finalising any arrangements. The consultation period ends at the beginning of May.

    Read more on:
  • News

Beef retirement scheme worth less than 30,000 per farmer

18 March 1998
Beef retirement scheme worth less than £30,000 per farmer

FARMERS will be paid less than £30,000 each to get out of beef production, it was revealed this morning.

The early retirement scheme will be available only to farmers who are more than 55 years old. Applicants must obtain at least 50% of their income from farming and must have been involved in beef production for at least 10 years.

    Read more on:
  • News

Beef retirement scheme worth less than 30,000 per farmer

18 March 1998
Beef retirement scheme worth less than £30,000 per farmer

By FWi staff

FARMERS will be paid less than £30,000 each to get out of beef production, it was revealed this morning (Tuesday).

A Government consultation paper released today states farmers will receive a lump sum of £11,240, plus £703 per hectare, under a proposed early retirement scheme to restructure the UK beef industry. But a ceiling has been set at £28,100.

Farmers can choose to take the money on an annual basis, however. This option pays an annuity of £3,747, plus £234 per hectare. But state retirement pension payments will be reduced if necessary to ensure that no farmer receives more than £9,360 a year.

Under European Union rules, the early retirement scheme will be available only to farmers who are more than 55 years old. Applicants must obtain at least 50% of their income from farming and must have been involved in beef production for at least 10 years.

Employees who have worked full-time on the same farm for at least two years will also qualify for an maximum early retirement payment of £7,025 (lump sum) or £2,342 (annuity). But they must be more than 55 years old and have spent the last five years as a farm worker.

Ministry of Agriculture officials have invited comments from farmers representatives before finalising any arrangements. The consultation period ends at the beginning of May.

    Read more on:
  • News
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