The NFF's proposal labels the five-year waiting period imposed on farmers – from the time they gift the farm to their children upon retirement to being able to access the aged pension - as "patently unfair".

"While debate in Canberra rages about benefit scales for the aged pension, many retiring farmers can't even access it," NFF president David Crombie said.

"The five-year waiting period fails to recognise the unique nature of farm family/business life, nor the need for the next generation to take over Australia's future food and fibre needs."

Mr Crombie argues that because the farm is not only a place of business, but also the family home, many farms simply cannot support multiple families for five years without the pension.

He said the situation forces farmers to "either sell the farm, or work well beyond retirement age delaying, or deferring, retirement indefinitely".

"The current inflexibility causes major transition issues," he said.

"With around 40pc of farmers over the age of 55, and those over 65 representing 18pc of all farmers, sensible succession planning is being thwarted – especially when one or more of the children want to continue working the farm.

"This scenario also means many skilled and passionate young farmers are lost to agriculture – forced to leave the farm business rather than endure five years of financial and emotional stress while their parents wait to qualify for the aged pension.

"We're simply asking the Government to restore commonsense and fairness by waiving the five-year waiting period to facilitate the smooth hand-over of productive farm land to the next generation of Australian food and fibre producers."