A bill seeking to create a pension fund for farmers and fisherfolk has been filed in the House of Representatives.
Under the proposed Agricultural Pension Act of 2023, contributions of farmers and fisherfolk who are identified as “extremely poor” will enjoy full subsidy from the national and local governments until such time that they have been found to be non-extremely poor. In the case of non-extremely poor agricultural workers, they shall give personal contributions with counterpart subsidies from the national and local governments set forth by the Social Security System, which will be mandated to manage the fund.
Benefits and entitlements under the measure are: a ₱2,000 monthly retirement benefit upon reaching 65 years old, not less than ₱18,000 death benefit, and conditional disability benefit if the farmer or fisherman becomes disabled before reaching 65 years old, among others.
The move to create a pension fund for the country’s agricultural workers is a step in the right direction to address their needs after their productive years.
Their contribution to nation building cannot be quantified. Agriculture remains the main driver of the country’s economy. In fact, President Marcos has made it a point for his administration to focus on agriculture.
“Agriculture is and will always be an important contributor to our national economy. In the first quarter of 2023, the agriculture sector grew by 2.2 percent while contributing 9.1 percent to our total gross domestic product,” Marcos stressed at the 125th anniversary of the Department of Agriculture in June 2023.
But while agriculture plays a crucial role, farmers and fishermen remain among the poorest sectors of the society and their future — after their productive years — remains uncertain.
This is why it is necessary for the state to recognize the roles played by our farmers and fishermen in nation building, and provide them support after their productive years. Our farmers and fishermen deserve the care of the state after toiling in the farms and the seas even under extreme weather conditions just so Filipinos will have sufficient food on their tables.
While the measure, filed by United Senior Citizens Party-list Rep. Milagros Aquino Magsaysay, recognizes that agricultural workers labor their whole lives, yet still “suffer the uncertainty of economic security and financial stability,” it still has a long way to go. As of now, the proposed Agricultural Pension Act of 2023 remains pending in the House Committee on Agriculture and Food.
We look forward to the expeditious passage of this measure to enable our farmers and fisherfolk to enjoy the care of the state and the fruits of their labor, as well.
Let’s give our farmers and fisherfolk the care and the financial stability they deserve after years of toiling in the farms and seas to feed us and contribute their share in the country’s economic growth.