EIGHTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES ) 
Third Regular Session 
)
SENATE 
S. No. 2335
fi DATE:.±ily^202iml
2:05 p.m.
Introduced by Senator Manuel "Lito" M. Lapid
AN ACT
ESTABLISHING AN AGRICULTUAL PENSION FUND TO PROVIDE PENSION 
BENEFITS TO FARMERS AND FISHERFOLK
EXPLANATORY NOTE
It is hereby declared a policy of the State to, from time to time, review to 
upgrade the pensions and other benefits due to retirees of both the government and 
private sectors.
Agriculture is one of the most essential industries in the country. Agriculture, 
forestry and fishing comprised 10.2% of the country's Gross Domestic Product (GDP) 
in 2021.1 The agriculture sector is the second largest sector making up 23.1 of the 
total employed individuals in the country.2
Ironically, agricultural workers especially farmers and fisherfolk, remains to be 
one of the poorest groups in our society, and are not covered by the pension programs 
of the government.
In due recognition to their great contribution to our economy, this bill proposes
1 https://psa.gov.ph/national-accounts/sector/Agriculture,%20Forestry%20and%20Fishing
2 https://psa.gov.pli/statistics/survey/labor-and-cmployment/labor-force-
survey/title/Employment%20Rate0/o20in°/o20July%202018%20is%20Estimated%20at%2094.6%20Percent


the establishment an Agricultural Pension Fund that will provide them with pension 
benefits when they reach the age of retirement.
In view of the foregoing, early passage of this bill is sought
UEL "LITO" M. LAPID


EIGHTEENTH CONGRESS OF THE) 
REPUBLIC OF THE PHILIPPINES ) 
Third Regular Session 
)
SENATE
S. No. 2335
202im
TH.iE
Introduced by Senator Manuel "Lito" M. Lapid
AN ACT
ESTABLISHING AN AGRICULTUAL PENSION FUND TO PROVIDE PENSION 
BENEFITS TO FARMERS AND FISHERFOLK
Be it enacted by the Senate and the House of Representatives of the Philippines 
in Congress assembled:
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Section 1. This Act shall be known as the "Agricultural Pension Fund Act."
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Section 2. Declaration of Policy. - It is hereby declared a policy of the State to,
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from time to time, review to upgrade the pensions and other benefits due to retirees
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of both the government and private sectors. It acknowledges that farmers and
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fisherfolk are integral part to the country's development, and therefore shall accord
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due recognition to their great contribution by providing them with pension benefits to
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assist them with their basic needs when they reach the age of retirement.
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Section 3. Creation of the Agricultural Pension Fund. -The Agricultural Pension
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Fund (APF) is hereby established to provide pension benefits to agricultural workers,
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especially farmers and fisherfolk.
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Section 4. Implementing Agency. - The Philippine Crop Insurance Corporation
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(PCIC), an attached agency of the Department of Agriculture (DA), shall be the


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implementing agency of the provisions of this Act. In addition to its existing duties
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and responsibilities, it shall:
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(a) Create a pension plan for agricultural pensioners;
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(b) Manage and invest the APF to ensure its sustainability;
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(c) Determine the criteria for eligibility, in coordination with relevant government
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agencies;
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(d) Perform other duties and functions towards the efficient and effective
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implementation of this Act.
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Section 5. Implementing Rules and Regulations (IRR). - Within ninety (90) days
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from the effectivity of this Act, the PCIC Board of Directors, in consultation with the
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Secretary of Agriculture and representatives of recognized farmers and fisherfolks
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group, shall promulgate the rules and regulations necessary for the effective
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implementation of this Act.
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Section 6. Appropriations. Such amount necessary to implement the provisions
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of this Act shall be included in the annual appropriations of the DA.
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Section 7. Separability Clause. - If any part or provision of this Act is held 
invalid or unconstitutional, the remaining parts or provisions not affected shall remain 
in full force and effect.
Section 8. Repealing Clause. - All laws, decrees, orders, rules and regulations 
inconsistent with the provisions of this Act are hereby repealed or modified 
accordingly.
Section 8. Effectivity. - This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in any newspaper of general circulation.
Approved,