Your program year margin is calculated each year. When the program year declines by more than 30 per cent of the reference margin, an AgriStability payment will be triggered. The payment provides 70 cents for every dollar of decline below the trigger point.
The interim benefit gives you the option of receiving funds prior to the completion of your fiscal period in the program year. This can help support losses and cover costs.
The benefit is based on the estimated margin decline or loss for the year when compared to the reference margin (historical average). Just like the final AgriStability benefits, your margin decline must be at least 30 per cent below your reference margin to access a payment.
To be eligible for an Interim Payment, you must have completed a production cycle and six consecutive months of farming activity in that program year.
Interim benefits are generally issued at 50 per cent of the estimated final benefit, to reduce the risk of overpayment. Producers who receive an interim benefit payment must submit their final program forms by the required deadlines.
Calculation of Benefits
When SCIC has completed processing your AgriStability application, a Calculation of Benefits (COB) is generated detailing your income, expense and supplemental information for both the program years and reference years.
A short summary showing how SCIC determined the final calculation and the new reference margin is mailed to you, once the file has been completed. The complete version of the COB (normally 10-12 pages) can be can be mailed upon request or accessed using AgConnect.