WINFA secures pension plan for retired farmers

Farmers can now look forward to enjoying their golden years, thanks to the signing of an agreement between the Windward Islands Farmers Association (WINFA), the National Fair Trade Organization (FTO) and CLICO International last week, which provides a pension plan for retired farmers.{{more}}

The idea to develop such a plan was two years in the pipelines by WINFA/FTO officials, and took two weeks to develop and implement by CLICO, much to the delight of Fair Trade administration and farmers.

Chairman of this country’s Fair Trade Organization Philemon Allen, said that last Thursday was a very important day in the lives of farmers in St. Vincent and the Grenadines.

“What we have now is a plan that every fair trade group that we have gone to have accepted and ready to move with. This is part of our development plan for our membership.”

Allen indicated that the plan will be on a contributory basis, where farmers who register will have a minimum $20 per month deducted from the sale of goods.

Farmers can also make over the counter payments if they choose to.

According to Allen, the Fair Trade organization will contribute $500,000 to assist farmers with their initial contribution, and allocations will be made based on age, which will be categorized.

Allen also indicated that registration is open to farmers 18 years and older, and those 60 years and over have until August 2009 to do so.

Payments will be made after a four year maturation period, to farmers over age sixty for life, except in the case of death where a lump sum will be paid to the farmer’s beneficiary.

Addressing the gathering, CLICO International agency manager Harvey Graham called the decision to create a pension plan for farmers a progressive and responsible move, and had high praise for the initiative.

“It speaks volumes of the individuals that you (the farmers) have managing your affairs in this organization. It says that the managers of the organization have a social conscience and understand farming and understand what it is like when a farmer can go (to the land no more).”

Graham said that when it is time or the farmers to collect their pension, their cheques will be made ready in a timely and hassle free manner

Also praising the new pension plan were WINFA coordinator Renwick Rose and acting Chief Agricultural Officer Rueben Robertson.