Fishermen’s pension fund, farmers wanted

Farmers plant rice seedlings | STOCK PHOTO

A MP from the party list has proposed the creation of a pension fund for farmers and fishermen in recognition of their work to feed the country even as they raise their own families.

In his Bill No. 2420, or the “Farm Pensions Bill,” AGRI Representative Wilbert Lee sought to establish a “Social Security and Pension Scheme for Farmers and Fishermen” that will be implemented. implemented by the Philippine Crop Insurance Corp. (PCIC) and the social security system (SSS).

Lee proposed that the social security and pension plan cover sickness, maternity, disability, retirement, death and funeral benefits, in line with existing social benefits under the SSS and PCIC, a agency attached to the Ministry of Agriculture.

The amount needed to carry out the initial implementation of the social security and pension program will be taken from national government savings.

In subsequent years, the funds needed for the program will come from 10% of the total annual duties collected on the importation of agricultural products. —JULIE M. AURELIO

READ: Pension fund for farmers and fishermen pushed to Senate

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