The Agricultural and Agrarian Insurance Board has taken steps to provide monthly pension payments exceeding Rs. 415 million to 170,950 farmers aged 60 and above through 3,975 post offices across the country.

The Board said a significant backlog of farmers' pension applications submitted before 2024 has now been processed following instructions issued after the new government assumed office.

Arrangements have also been made to commence pension payments within one month for applicants whose submissions are complete and free of deficiencies, the Board stated.

Meanwhile, the Board has begun reviewing contribution payments made by contributors who have failed to pay their instalments regularly but have paid more than 25 per cent of the required contributions. The process involves calculating and adjusting their eligible contributions.

Additionally, the government has restarted the payment of outstanding pension arrears for farmers who reached the age of 60 on or after January 1, 2014, following the temporary suspension of the process.

The Board further stated that the outstanding payments would be settled in accordance with the financial provisions allocated by the Treasury.