Farm transfer fears
Published 09/03/2010 | 05:00
The Government plan to increase retirement age by three years could have a major negative effect on the transfer of farms to the next generation, Macra has warned.
The young farmers' organisation is calling for special schemes in agriculture to offset the effect of a proposed higher pension age.
Raising the retirement age to 68 by 2014 would further delay farm transfers and form a barrier to the restructuring of the age demographic in Irish agriculture, Macra president Michael Gowing claimed.
"Increasing the retirement age will further delay the transfer of farms," he insisted.
"We need incentives for farmers to retire earlier instead of having them retiring later in life."
The majority of family farms were not in a position to sustain two sets of families, thus preventing parents handing over the farm in the absence of a pension, he explained.