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.

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