Generational renewal is not only about attracting younger farmers. It also depends on whether older farmers can retire with financial security – and whether the next generation has a meaningful route into farming.
Research led by Dr Michael Hayden at Maynooth University, in partnership with Teagasc, has examined these two sides of generational renewal.
The average Irish farm holder is 59.4 years old. Almost 38% are aged 65 or over, while just 4.3% are under 35. The research found that only around half of Irish farmers have a private pension, with significant differences across farming systems. Without adequate retirement income, some farmers expect to continue farming as a way of supporting themselves in later life. But older farmers being able to step away is only one side of the generational renewal issue.
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