Billy Timmins
Ceist:124 Mr. Timmins asked the Minister for Agriculture and Food his plans to index link the farmers retirement scheme (details supplied); and if he will make a statement on the matter. [18102/04]
Amharc ar fhreagraWednesday, 16 June 2004
Ceisteanna (84)
Freagraí scríofa
The EU regulations governing the current scheme and the previous scheme, which was 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. The Department of Agriculture and Food's proposals for the current early retirement scheme, which commenced on 27 November 2000 and forms part of the CAP rural development plan for the period between 2000 and 2006, included provision for annual increases in pension over the period of the plan. The European Commission rejected the Department's proposal and insisted that a fixed rate be set instead. The 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 current scheme.