Subsidy for veteran farmers raised to RMB 15,000, passed by the Legislative Yuan on third reading
The amendment will be implemented retroactively to July 1 this year, and it is expected that more than 7,000 new people will be able to receive it.
Quick Look
- The Legislative Yuan passed the "Amendment to the Interim Regulations on Welfare Subsidies for Elderly Farmers" on the third reading yesterday, increasing the monthly subsidy for elderly farmers from 8,110 yuan to 15,000 yuan.
- The implementation date will be retroactive to July 1 this year.
- It will also relax the standards for wealthy people.
AI-generated summary
Why It Matters
The Executive Yuan passed an amendment draft on January 15 this year, which plans to increase the allowance for veteran farmers to NT$10,000, with an estimated annual increase of NT$12.9 billion in budget funds, a new adjustment mechanism for CPI to reach 3%, and a relaxation of the current wealth elimination standards.
The Legislative Yuan passed the "Amendment to the Provisional Regulations on Welfare Subsidies for Elderly Farmers" on the third reading yesterday, increasing the subsidy for elderly farmers to NT$15,000. (Photo by reporter Chen Yikuan)
The Legislative Yuan passed the "Amendment to the Provisional Regulations on Welfare Subsidies for Elderly Farmers" on the third reading yesterday, increasing the monthly subsidy for elderly farmers from the current NT$8,110 to NT$15,000. The implementation date will be retroactive to July 1 this year. Agriculture Minister Chen Junji previously stated that based on the current number of 530,000 people receiving the old farmer subsidy, if it were raised to 15,000 yuan, an additional 32 billion yuan would be spent every year, which would inevitably crowd out agricultural infrastructure such as industrial support and cold chain.
The Executive Yuan passed the "draft amendment to some provisions of the Interim Regulation on Welfare Subsidies for Elderly Farmers" on January 15 this year. The pension for elderly farmers is planned to be increased to 10,000 yuan, with an estimated annual increase of 12.9 billion yuan in budget funds, an adjustment mechanism for the new CPI to reach 3%, and a relaxation of the current wealth elimination standards. The Kuomintang League and the People's Party League increased the monthly allowance to 15,000 yuan, and the relevant drafts were directly read for the second time and merged for negotiation.
Yesterday, the Legislative Yuan passed the amendment motion jointly submitted by the Kuomintang group and the People's Party group with 50 votes in favor, no objections and no abstentions. Except for the amount of 15,000 yuan, other provisions were the same as the Political Yuan version.
The third reading of the article relaxes the criteria for qualifying for the old farmer subsidy, raising the total personal income threshold other than agricultural income from 500,000 yuan to 600,000 yuan; the value threshold of personal land and house property is adjusted from 5 million yuan to 10.25 million yuan. It is expected that more than 7,000 new people will receive the old farmer subsidy.
What to Watch
AI outlook — possibilities, not facts
The amendment will take effect on July 1 this year, and eligible elderly farmers will begin to receive the increased subsidies.
Very likely · Within months
Open Questions
- Specific financial resources arrangement method after the implementation of the amendment
- Detailed review timetable for the eligibility of more than 7,000 new people
