AgriStability

AgriStability Program Update

Through federal and provincial agreement, the compensation rate for AgriStability has been increased from 70% to 80%, beginning with the 2023 program year. PEI has been providing an increased compensation rate since the 2020 program year. This increase comes with no additional producer fees.

Note: If you have not received your enrolment notice by March 31st, contact the AgriStability office at 902-836-0435.

P.E.I.AIC's 2024 Client Satisfaction Survey is available now! The survey is available until March 31st. Click here to complete the survey. 

AgriStability helps farm operations facing large margin declines due to the combined conditions of declining markets, production losses and increased input costs. AgriStability provides whole-farm-margin coverage when the margin for the current program year falls below a specified percentage of the historical reference margin. The historical reference margin is a farm’s five-year performance using income tax and supplemental information. To participate in the AgriStability program, producers must submit the required program forms and pay program fees by the established deadlines. The deadline to enrol in the PEI AgriStability program is April 30th. Program Guidelines are available online. 

AgriStability is cost shared 60:40 by the provincial and federal governments under the Sustainable Canadian Agricultural Partnership (Sustainable CAP) for program years 2023-2027, and the Canadian Agricultural Partnership (CAP) for program years 2018-2022. For detailed information refer to Agriculture and Agri-Food Canada. 

Who is eligible for AgriStability?

In general, eligibility for AgriStability participation requires that a producer:

  • Completed a minimum of six months of consecutive farming activity in Canada;
  • Completed a production cycle in that program year;
  • Reported farming income (or loss) to the Canada Revenue Agency, no later than three months after the deadline for that program year; and
  • Meets all program enrolment, payment, and reporting requirements by the established deadlines. 

To ensure eligibility for AgriStability coverage, a producer must meet the enrolment and submission deadlines established for the program year. Find deadline information on the Enrolment and Deadlines page.

How do I sign up for AgriStability coverage?

The deadline to enrol in the PEI AgriStability program is April 30th. 
If you did not participate in the AgriStability program the previous year, a program administrator will help determine your eligibility and help you register. To begin the enrolment process, call PEI Agricultural Insurance Corporation office at 902-836-0435. 

If you participated in the program for the previous year, your enrolment notice and contribution reference margin for the upcoming program year will be issued mid-March, unless you indicate you do not wish to receive enrolment notices.

How much does it cost to participate?

The participant’s contribution for the program year is calculated using the producer’s “contribution reference margin” (calculated by the administrator) multiplied by 0.45 percent, multiplied by 70 percent. Payment is due within 30 days of receiving the enrolment notice or four months after the start of the program year, whichever is later. A producer is not eligible to receive AgriStability benefits if their contribution remains unpaid at the end of the program year or 60 days after notice of enrolment, whichever is later.

For more information on payment details, view the Calculating AgriStability Program Benefits page.

Outstanding Accounts

Interest on unpaid fees is added to account balances at the first of each month beginning January 1st of the following calendar year, accruing at the rate of 1% per month until the account is paid in full. 

Program fees, administrative fees and all other amounts owed to P.E.I.AIC are due and payable upon billing. Any outstanding amounts owed to P.E.I.AIC will be deducted from payments to the client.

Client Information

AgriStability participants are responsible for notifying P.E.I.AIC of any change in their contact information. If any of your client information (address, phone number, email, etc.) has changed please complete the Client Details Form and submit to the office. For a paper copy or more information contact the office at 902-836-0439 or email AICStability@gov.pe.ca and we’ll send you a Client Details form. P.E.I.AIC only updates client files with approved information. P.E.I.AIC asks that you fill it out and sign it so that we can update your file properly.

P.E.I.AIC adheres to privacy procedures compliant with current legislation and is committed to securing our clients’ personal information. Personal information is defined as any information about an identifiable individual that is recorded in any form, subject to the Freedom of Information and Protection of Privacy Act (FOIP Act). As an individual, it is your right to control when, how and to what extent your information is communicated to others. 

Looking for Additional Information?

 

Published date: 
March 3, 2023
Agriculture Insurance Corporation text with hand and plant image

General Inquiries

P.E.I. Agricultural Insurance Corporation
7 Gerald McCarville Drive
Kensington, PE
Fax: 902-836-8912

Mailing Address: PO Box 400, 
Kensington, PE C0B 1M0


AgriInsurance: 
902-836-0439

AICInsurance@gov.pe.ca

AgriStability and AgriInvest:
902-836-0435 

AICStability@gov.pe.ca