Korea Rural Community Corporation Farmland Pension Subscription Conditions Application Documents
Subscription conditions, farmland pension, target farmland, project promotion system, application documents, payment method, eligibility for support, Korea Rural Community Corporation
Korea Rural Community Corporation Farmland Pension Subscription Conditions Application Documents
Let’s find out the conditions for subscribing to the Farmland Pension implemented by the Korea Rural Community Corporation Agricultural Management Fund.
The Farmland Pension System was announced as a domestic countermeasure for the FTA agriculture sector as a government support policy to ensure stable retirement living for aged farmers. The conditions for membership are farmers aged 65 years or older and farmers with more than 5 years of farming experience.
There are two types of payment: life sentence and term sentence. When applying, you must prepare three types of documents, including an identification card, a copy of the register, and a copy of the land register. Then, let’s look at the application documents for the conditions for joining the Farmland Pension of the Korea Rural Community Corporation. 농지연금 가입조건
Korea Rural Community Corporation Farmland Pension Subscription Conditions Application Documents 좋은뉴스
farmland pension
The farmland pension system is a system that guarantees the elderly over the age of 65 and receives living expenses in the form of pensions by collateralizing the land.
Korea Rural Community Corporation Farmland Pension Subscription Conditions Business Promotion System
As a system for the elderly in farming and fishing villages who have no income other than agriculture, it was implemented as a domestic measure for the Korea-US FTA. The project operator is the Korea Rural Community Corporation, and the following conditions must be met to receive farmland pension.
Purpose of Korea Rural Community Corporation Farmland Pension
As of the end of the application year, both the farmer and his/her spouse must be over 65 years of age and have at least 5 years of farming experience. At the time of application, the total owned farmland is less than 30,000 square meters and is actually used for farming.
Korea Rural Community Corporation Farmland Pension Subscription Conditions Eligibility for Support Target Farmland Payment Method
Even if the farmland is used as collateral for pension-type living expenses, it is possible to generate additional income by continuing to cultivate or lease the land. There are two types of payment: life and term. Life imprisonment is a method of paying monthly while you are alive, and term imprisonment is a method of receiving monthly payments for a certain period of time.
If a 70-year-old farmer pledges farmland worth 200 million won for life, 776,000 won will be paid every month. Documents to be submitted at the time of application are one copy of each including the spouse of the ID card, a certified copy of the register, a certified copy of the land register, an individual publicly announced price confirmation letter, a land use plan confirmation certificate, and a copy of the farmland certificate. You must submit your registration certificate.
The Korea Rural Community Corporation Farmland Pension is a system to guarantee the livelihood of elderly farmers, and targets the land currently being cultivated. Both spouses must be over 65 years of age and have at least 5 years of farming experience.