AgriStability Program Enhancements
The Department of Agriculture and Land is pleased to announce some important changes to the AgriStability Program.
These changes will provide increased support to all producers for the 2021 and 2022 Program Years:
- The Coverage Level is being increased to 85% from 70%, reducing the margin loss a producer must incur to trigger a payment.
- The Compensation Rate is being increased from 70% to 80% of the loss covered.
- The 20% Late Participation penalty for the 2021 program year will be covered and paid by the province.
*** All changes will be 100% covered by the PEI government, including the federal portion of the cost-share.
Agristability Late Participation 2022
Although the 2022 enrolment deadline has passed, you can still participate in AgriStability as a late participant. View the AgriStability Late Participation Frequently Asked Questions information page.
You can access benefits early by requesting an Interim Payment. An Interim Payment is an advance on your AgriStability benefits. Please contact the office for details.
For more information, call the Agricultural Insurance Corporation at 902-836-0435.
The Agristability Program is designed to help farm operations facing large margin declines caused by combinations of declining market conditions, production losses and increased input costs. AgriStability provides whole farm margin coverage when your farm’s program year (current year) margin falls below 70% of your farms historical reference margin. Your reference margin is reflective of your farm’s five-year historical performance using income tax and supplemental information.
AgriStability is cost shared with the federal government through the Canadian Agricultural Partnership (CAP) agreement for 2018-2022, and the Sustainable Canadian Agricultural Partnership (Sustainable CAP) for program years 2023-2027. CAP and Sustainable CAP are a five-year federal-provincial-territorial funding agreement that governs Business Risk Management (BRM) programs to support agricultural producers.
Programs under the BRM suite work together to cover different areas of farm risk.
How do I sign up for AgriStability?
2023 AgriStability Enrolment Notices will be sent mid-March to participating producers.
If you are interested in participating in the AgriStability Program for 2023 and have not received an enrolment notice by the end of March 2023, please contact the AgriStability office at 902-836-0435.
Those requesting entry into the program after April 30, 2023 will not be eligible to participate in AgriStability for the 2023 program year.
Deadlines for the 2023 AgriStability Support Year:
- April 30, 2023 - Participants from 2022 - Pay fee without penalty or sign and return the “2023 Opt Out” Form. Fees and Penalties are incurred and owing after April 30.
- April 30, 2023 - New participants must sign the 2023 Enrollment Notice and pay the fee without penalty.
- December 31, 2023 - Final Deadline to Pay 2023 Program Fees with penalty.
Deadlines for the 2022 AgriStability Support Year:
- September 30, 2023 - File 2022 Income and Expense Statements with CRA using the T1163 form (Corporate farms must submit this information directly to the PEI AgriStability office using Statement A – Corporations & Cooperatives).
- September 30, 2023 - Complete 2022 Supplemental Forms and submit to the PEI AgriStability office.
NOTE: New Participants should contact the Administration Office for supplemental forms
For more information contact the local administration office:
Agricultural Insurance Corporation
7 Gerald McCarville Drive
PO Box 400
The Sustainable Canadian Agricultural Partnership (Sustainable CAP) is a new $3.5-billion, 5-year agreement (April 1, 2023 to March 31, 2028), between the federal, provincial and territorial governments to strengthen the competitiveness, innovation, and resiliency of the agriculture, agri‐food and agri‐based products sector. The agreement includes $1 billion in federal programs and activities and $2.5 billion in cost-shared programs and activities funded by federal, provincial and territorial governments..