AFTER writing a law condoning almost P58 billion in debts of over a half-million agrarian reform beneficiaries (ARB), the 19th Congress has been asked by one of the authors of this landmark legislation to pass during its second legislative session another measure benefitting our farmers and other agricultural workers.

Camarines Sur Rep. LRay Villafuerte has called on the Congress to pass in its Second Regular Session House Bill (HB) No. 7963, which mandates the Philippine Crop Insurance Corp. (PCIC) to craft and manage a first-ever Agricultural Pension Fund (APF) to provide benefits to our farmers and fisherfolk when they retire from work.

“Our agricultural workers, especially farmers and fisherfolk, are among the poorest groups in our society and are not covered by any pension program of the government,” Villafuerte said.

“Hence, HB 7963 seeks to establish an Agricultural Pension Fund to provide our agricultural workers with pension benefits when they reach the age of retirement,” he added.

Villafuerte, a former Camarines Sur governor and now president of the National Unity Party (NUP), authored HB 7963 with Bicol Saro Rep. Brian Raymund Yamsuan.

HB 7963 recognizes that “universal access to comprehensive and adequate social protection systems is an important tool to prevent and reduce poverty and inequality.”

Otherwise known as the “Agricultural Pension Fund Act,” HB 7963 was referred by the House leadership to its Committee on Government Enterprises and Privatization for study.

Villafuerte said that, “Our farmers and fisherfolk are an integral part of the country’s development, and deserve due recognition for their great contribution to society by providing them with pension benefits to assist them with their basic needs when they reach the age of retirement.”

The bill mandates the PCIC, which is a state-run firm attached to the Department of Agriculture (DA), to be the implementing agency of the provisions of the proposed Act.

Thus, in addition to its existing duties and responsibilities, the PCIC shall:

• Create a pension plan for agricultural pensioners;

• Manage and invest the APF to ensure its sustainability;

• Determine the criteria for eligibility, in coordination with relevant government agencies; and

• Perform other duties and functions towards the efficient and effective implementation of this Act.

Within 90 days from the effectivity of this Act, the PCIC Board of Directors, in consultation with the DA Secretary and representatives of recognized farmers and fisherfolk groups, is required by the bill to promulgate the implementing rules and regulations (IRR) necessary for the effective implementation of this Act.

The bill states that whatever amount is necessary for the implementation of the provisions of this proposed Act shall be included in the annual appropriations of the DA.

Based on Philippine Statistics Authority (PSA) data, there were almost 9.7 million agricultural workers in 2019, with Bicol accounting for about 698,000 of them.

Villafuerte has sought the speedy congressional approval of HB 7963, noting that Speaker Martin Romualdez himself said following the House’s ratification of the bill condoning P57.557 billion-worth of debts of 610,054 ARB farmers of the Comprehensive Agrarian Reform Program (CARP) that: “We need to provide our farmers all the support we can to promote increased productivity and help us attain food security. The House of Representatives will continue to explore more avenues to revitalize our agriculture sector.”

The NUP president is one of the authors of this debt condonation measure, which President Marcos signed into law as Republic Act (RA) 11953 last July 7, 2023.