Melville, Saskatchewan – Agriculture and Agri-Food Canada - The federal and provincial governments have agreed to increase the 2021 AgriStability interim benefit payment percentage from 50 per cent to 75 per cent for Saskatchewan producers.
The interim benefit provides the opportunity for producers who are enrolled in AgriStability to access a portion of their benefit early, to help support losses and cover costs. With this increase, Saskatchewan producers can apply for an interim benefit to receive 75 per cent of their estimated final 2021 benefit before completing their program year.
The interim benefit is calculated based on the estimated margin decline or loss for the year compared to the farming operation's reference margin. The decline must be at least 30 per cent below the reference margin to access a payment. If a producer receives an interim benefit payment, they must still file all final program year forms and meet program requirements by the assigned deadlines.
The Government of Saskatchewan, through the Ministry of Agriculture and Saskatchewan Crop Insurance Corporation, and the Government of Canada, continue to stay in regular contact with producers, stakeholders, and provincial counterparts as we confront the challenges of drought across Western Canada.
Source : canada