Denis Naughten
Question:152 Mr. Naughten asked the Minister for Agriculture and Food if he will implement the indexation provisions in the farm retirement scheme; and if he will make a statement on the matter. [29080/03]
Written Answers. - Farm Retirement Scheme.
The EU regulations governing the current and earlier scheme of early retirement from farming, introduced in 1994, do not provide for indexation of rates of payment. The rate of pension payable under the 1994 scheme is the maximum provided for in the EU Council regulation under which the scheme was introduced. In its proposals for the current scheme, which commenced in November 2000, my Department had made provision for annual increases in the rate of pension. However the European Commission rejected this proposal and insisted that a fixed rate be set for the full period of the CAP Rural Development Plan 2000-2006.