Summary of how to calculate farmland pension receipt
Let’s find out how to calculate the farmland pension benefit. Recently, elderly people living in rural areas are very interested in farmland pension to prepare for living expenses in their old age, and it is said that they are learning a lot about farmland pension receipt calculation, farmland pension subscription conditions, farmland pension website, etc.
If you read the article I prepared, you can get the most accurate information about the farmland pension payment calculation, farmland pension subscription conditions, farmland pension homepage, etc. 농지연금 수령액 계산
Find out how much I receive my farmland pension 좋은뉴스
What is Farmland Pension?
Farmland Pension is a system in which elderly farmers aged 65 or older receive monthly payments in the form of pension until their death by securing their farmland as collateral.
The purpose of the Farmland Pension is to build and maintain the social safety net of rural society by securing stable living funds for elderly farmers who have difficulty living in their old age by liquidating farmland assets to some extent flexibly.
Farmland Pension is a system that has the advantage of securing agricultural income or rental income as well as pension income because it is possible to continue farming on farmland and lease it to others while receiving pension continuously.
Check conditions for farmland pension subscription
The conditions for subscribing to the Farmland Pension are based on the year of application, so farmers who are 65 years of age or older and have at least 5 years of farming experience can join the Farmland Pension.
In the case of farming experience, it does not have to be continuous right before the application date, and it is said that it meets the criteria if it is more than 5 years in total during the entire farming period.
In the case of farmland subject to farmland pension, the designation must be an orchard, field, or rice field, and it is said that it is possible only if the land is currently being farmed. In addition, it is said that you must separately apply for the issuance of the Agricultural Support Department.
*caution
Due to the revision of the farmland pension, newly acquired farmland from January 1, 2020 corresponds to farmland owned by the target for more than 2 years, and only farmland actually used for farming is eligible for subscription.
In addition, based on the resident registration address of the farmland pension applicant, only farmland that is located within a city, county or district where the farmland is located, or within 30 km of a straight line distance is considered farmland that meets the conditions for joining the farmland pension.
Of course, there are some farmland that cannot be subscribed to the farmland pension. Farmland where illegal buildings are installed or owned jointly by someone other than the person or spouse, as well as farmland in areas where the development plan is finalized because the development area and development plan have been designated and announced, are not eligible for farmland pension subscription. Please note that this is excluded.
Farmland Pension Receipt Calculation
It is quite unreasonable for an individual to calculate alone because the method of calculating the amount of farmland pension is quite complex and too different depending on the age of subscription or various criteria.
So, I have prepared a farmland pension receipt calculator provided on the Farmland Pension website, so please check it out below. For reference, you can receive up to 3 million won in farmland pension, so make sure to check how much farmland pension you can receive as it is a considerable amount.
Find out how much I receive my farmland pension
If you know the amount of your farmland pension, I will introduce you to the last 5 ways to receive farmland pension.
How to receive farmland pension
Fixed life sentence: A method of receiving a certain amount every month until the death of the subscriber and his/her spouse
Before and after: A method in which more money is paid than the flat-rate type during the first 10 years of subscription and less from the 11th year
Temporary Withdrawal Type: A method of receiving payment by frequently withdrawing the necessary amount within 30% of the total payable amount
Fixed-term fixed-term type: A method in which a subscriber receives a fixed amount every month for a certain period of time selected by the subscriber
Management transfer type: A method of receiving more pension on the premise that the ownership will be transferred to the corporation when the payment period ends
We looked at the calculation of farmland pension receipts, conditions for joining farmland pension, and the farmland pension homepage. Please refer to today’s article and get help to receive farmland pension. If the information was helpful, please comment, like, and subscribe. You worked hard today too.