November 05, Colombo (LNW): Thousands of elderly farmers across Sri Lanka are set to benefit from the continued expansion of pension payments, with the Agricultural and Agrarian Insurance Board preparing to distribute more than Rs. 415 million every month among 170,950 beneficiaries aged 60 and above.
The payments will be channelled through a network of 3,975 post offices islandwide, providing pensioners with access to their monthly entitlements closer to their respective communities.
The Board has also reported progress in clearing a backlog of pension applications submitted before 2024. A substantial number of previously pending applications have now been processed following directions issued after the present administration took office.
In a further move to speed up the system, applicants who have submitted all the required documents and whose applications contain no outstanding deficiencies are expected to begin receiving their pensions within one month.
Attention is also being given to farmers who have experienced difficulties maintaining regular contributions to the pension scheme. The Board has initiated a review of accounts belonging to individuals who have paid more than a quarter of their required contributions despite falling behind on subsequent instalments.
Under this exercise, the contributions made by eligible applicants will be assessed and recalculated to establish the benefits they are entitled to receive.
Meanwhile, the authorities have resumed efforts to settle unpaid pension arrears owed to farmers who reached the age of 60 on or after 1 January 2014. The process had previously been put on hold, leaving a number of eligible pensioners waiting for payments due to them.
According to the Board, the outstanding amounts will be released in stages, subject to the financial allocations and resources made available by the Treasury.
