Farmers ‘can reap benefits from early retirement’
The detailed study on the experiences, needs and resources of such farmers in Limerick was the first of its kind in the country.
It was researched by geographer Dr Caitriona Ni Laoire, UCC, and retired farmer Michael Doody from Monagea in west Limerick, who initiated the project.
Dr Ni Laoire said early retirement, if worked properly, is crucial for the survival of family farms.
Despite the sense of loss that many retired farmers feel at being cut off from farm work, they can make a significant contribution to the community, she said.
The report, Life After Farming, was funded and published by West Limerick Resources, a partnership company.
It focused on the Department of Agriculture and Food administered Early Retirement Scheme (ERS), which has 878 participants in Limerick and almost 9,000 nationally.
Farmers between the ages of 55 and 65 are encouraged to retire early from farming and receive a pension under the scheme in order to facilitate the early transfer of holdings to young farmers.
The report noted that this generally active and able group adapting to a changed lifestyle has a wide range of experience to offer and time on their hands.
The report noted that almost a fifth (19%) of those surveyed are relying solely on the ERS pension, which has a ceiling of €13,500, for their income. The study said it should be increased.
The research also found significant health benefits, both mental and physical, associated with the ERS due to reduced stress and reduced physical labour.
Over 80% of survey respondents were “satisfied” or “very satisfied” with their present quality of life.
