Farmland Pension Subscription Conditions and Receipt Calculation
Farmland pension, farmland pension subscription conditions, farmland pension receipt calculation, farmland pension application, farmland pension website
Farmland Pension Subscription Conditions and Receipt Calculation
The conditions for subscribing to farmland pension plans will be relaxed. We are preparing a plan to activate the farmland pension project by introducing preferential products for low-income farmers and long-term farmers and improving the system. Then, let’s find out about the conditions for subscribing to farmland pension and the amount to be received. 농지연금 수령액 계산
farmland pension
index
What is Farmland Pension? 좋은뉴스
The Farmland Pension is a system in which elderly farmers aged 65 or older receive a monthly pension to stabilize their retirement living by using their farmland as collateral. Recently, it was announced that the criteria for membership to be over 60 years of age would be relaxed.
The purpose is to support the elderly who lack funds for retirement by liquidating farmland assets and to expand the rural community safety net.
Advantages of Farmland Pension
Married couple, lifetime payment
If the farmer who received the farmland pension dies, and the spouse takes over, the farmland pension can be continuously received until the death of the spouse.
(However, this applies if the spouse is over 60 years of age at the time of application and has selected pension succession.)
Possible farming or rental income
While receiving a pension, you can either cultivate or lease your mortgaged land.
Securing stability through financial support
It is funded by the government budget and implemented directly by the government, so you can receive pension payments stably.
Pension debt shortfall unclaimed
When the pension debt is repaid, the remaining amount is returned to the heir after repayment through the disposal of the collateral farmland, and no additional charge is made even if there is a shortfall.
property tax relief
Farmland with a value of 600 million won or less is exempted in full, and farmland with a value exceeding 600 million won is exempted from property tax up to 600 million won.
joining condition
Enrollment age
As of the end of the application year, the farmland owner must be 65 years of age or older according to resident registration (will be reduced to 60 years of age or older)
farming experience
At least 5 years of farming experience
target farmland
1. Among the farmland under the Agricultural Land Act, farmland owned by the subject of the project as farmland, paddy field, orchard designated for government purposes and actually used for farming 2. Farmland owned by the subject of the project for more than 2 years (inherited farmland includes the holding period of the ancestor) do.)
3. The address of the subject of the project (based on the address on the resident registration) is located in the city, county, or district where the collateral farmland is located, or the city, county, or district adjacent to it;
Farmland located in an area where the straight-line distance between the address and the collateral farmland is within 30 km
Pension payment method
payment method
There are two major types of payment: life-type and term-type. The life-type is a way to receive annuity until death, and the term-type means to receive annuity for a set period.
However, please note that the payment method is divided according to the age of subscription.
Calculate Farmland Pension
[Calculation of farmland pension receipt amount]
Farmland Bank Integrated Portal
Farmland Bank Integrated Portal
www.fbo.or.kr
You can calculate the farmland pension receipt through this link. You need to enter simple personal information to confirm the expected farmland pension.
Enter information such as succession status, farmland evaluation, farmland price, etc., and click ‘Check Result’ to check the amount received.
Application method and documents
document
At the time of application, the documents required for application are attached with photos. To apply, please click Apply through the website. An official certificate is required at the time of application, so it is recommended to obtain it in advance.
If you put in an application for registration, the person in charge of the branch office of Farmland Bank will provide you with detailed information on the necessary documents and registration procedures over the phone. And after the screening, we will decide on the conclusion of the contract.