Farmer Pension Act Article 15

The calculating method for the amount that a farmer can collect from the farmers’ pension shall be based on the principal and accumulated income in the individual farmers’ pension account, with the amount calculated on the basis of average life expectancy based on the pension life table as well as the interest rate, and shall be paid out each month.The income from use of the farmers’ pensions as mentioned in the preceding Paragraph shall not be less than the income calculated based on the interest rate of a two-year certificate of deposit at local banks; in cases where the income does not reach this level, the national treasury shall make up the difference.The calculation of the pension life table, average life expectancy, interest rate, and amounts shall be separately determined by the BLI for the nation, for indigenous people, and for the disabled, and shall be reported to the Competent Authority for approval.