Vol. 548 No. 4
17 Mr. McGinley asked the Minister for Agriculture, Food and Rural Development when he intends to index link the farm retirement scheme; his views on the fact that those who signed on four or five years ago, feel aggrieved that unlike pensioners in general, their income has remained frozen; and if he will make a statement on the matter. [4997/02]
The rate of pension payable under the 1994 early retirement scheme is the maximum provided for in the EU Council regulation under which the scheme was introduced. The regulation does not provide for indexation of payments.
My Department's proposals for the early retirement scheme that commenced on 27 November 2000, and which forms part of the CAP rural development plan for the period 2000-06, included provision for annual increases in pension over the period of the plan. The European Commission rejected this proposal and insisted that a fixed rate be set instead. My Department then proposed a rate that was the average of the scale initially proposed. This was acceptable to the Commission and is the rate provided for in the new scheme.
