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AgriStability interim payments increased for 2020

The 2020 interim benefit will increase from 50 to 75 per cent
wheat field stock
(Shutterstock)

Farmers face many challenges in the coming months due to the COVID-19 pandemic, but some extra help is on the way.

The federal and provincial governments have agreed to increase the 2020 AgriStability interim benefit payment percentage from 50 to 75 per cent for Saskatchewan producers.
 
This can provide producers with a portion of their final AgriStability benefit early, to help support losses and cover costs.  

Producers can apply for an interim benefit to receive 75 per cent of their estimated final 2020 benefit, before completing their program year. Saskatchewan Crop Insurance Corporation (SCIC) is also waiving the six months farming and one production cycle criteria for those applying for 2020 interim benefits.
 
“In these uncertain times, the AgriStability interim payment can help producers with cash flow needs,” Saskatchewan Agriculture Minister David Marit said in a press release. “If a producer qualifies for an interim benefit, this is a great way to get additional funds for their operation before filing their final application.”
 
Interim benefits are calculated based on the farm’s estimated program year margin, relative to its estimated reference margin. The estimated program year margin must show a decline of 30 per cent or more compared to the estimated reference margin. Those who receive an interim benefit payment must still file all final program year forms and meet program requirements by the assigned deadlines.  
  
Contact your local SCIC office to enrol in the AgriStability Program or to apply for an interim benefit. You can also call the AgriStability Call Centre toll-free at 1-886-270-8450.

The deadline to enrol in AgriStability was recently extended to July 3.

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