Liam Aylward
Question:349 Mr. Aylward asked the Minister for Agriculture and Food when arrears will issue to recipients of EU farm retirement pensions whose rate of pensions were reduced because of exchange rates. [18322/99]
Written Answers. - Farm Retirement Scheme.
The Council of Ministers has agreed that compensation will be paid over the next three years to participants in the schemes affected by reductions arising from the introduction of the euro.
Full compensation, with 100 per cent funding by the EU, will be payable for the reduction in 1999 pensions to participants who joined the scheme prior to 1998. Approval of the EU Commission is necessary before compensation will be paid. It is hoped that the Commission will give the necessary approval by the end of November, and once such a decision is received payment will issue as soon as possible. Two further tranches of compensation at reduced levels will be paid.
Liam Aylward
Question:350 Mr. Aylward asked the Minister for Agriculture and Food if he will confirm whether a person who fulfils the conditions for contributory old age pension can retain his EU farm retirement pension on reaching 66 years of age. [18323/99]
It is a condition of this scheme that if the transferor, or any of the persons who were jointly involved in the management of the agricultural holding at the time of application, qualifies for a national retirement pension – which must be applied for on reaching 66 years of age – then the EU early retirement from farming pension will be reduced by the amount of the national pension.
Therefore, participants who satisfy the conditions to qualify for a contributory old age pension may retain their EU farm retirement pension on reaching 66 years of age, but it will be reduced by the total amount paid to them from their national retirement pension.