A high-benefit pension scheme for fishermen has been introduced by the Department of Fisheries and Aquatic Resources in collaboration with the Agricultural and Agrarian Insurance Board.
Accordingly, the pension plans are offered based on fishermen’s purchasing power and personal preference, the Ministry noted.
Accordingly, under the new fishermen’s pension scheme, fishermen are given the opportunity to contribute to a pension plan according to their financial capacity and choice.
The Ministry added that fishermen can contribute to any pension scheme that allows them to receive a monthly pension after the age of 60, in amounts such as Rs. 5,000, Rs. 10,000, Rs. 15,000, Rs. 20,000, Rs. 25,000 or higher, based on their preference.
Another unique feature of the scheme is that the pension amount increases at different age brackets after the age of 60.
Additionally, by joining the new fishermen’s pension scheme, contributors are entitled to life insurance benefits while the pension will be transferred to the spouse upon the pensioner’s death.
