The UK Government want younger farmers in a bid to protect the environment
Older farmers in the UK could be paid up to £100,000 to retire.
The government is trying to encourage greener farming methods and its believed older farmers are most likely to resist these changes.
Environment Secretary, George Eustice wants them to move on and make room for younger farmers.
Farming is a really difficult and demanding job and about four in 10 UK farmers are over the age of 65 with an average age of 59. The government hopes a lump sum of money will encourage them to
Under the old EU system farmers would receive grants based on the amount of land they have to farm.
An estimated 61% of farm income comes from grants. Most farmers get around £21,000 in grants with larger land owners like the Queen getting around half a million pounds each year.
Mr Eustice says the grants system encourages some farmers avoid risks and hold on to their land in order to collect the grants as their income, instead of selling it, letting other people farm it, or trying new business ideas.
The government also hopes younger farmers will be more open to new nature-friendly farming ideas and would be more likely to set up other businesses - like campsites - to make more money.
The Tenant's Farmers' Association (TFA) asked 360 farmers what they thought of the idea and three-quarters of the farmers asked, said they were seriously interested in the proposed retirement plans.
The TFA chief executive, George Dunn, has said he supports the plans for a lump sum of money to those retiring.
He did warn the government however to make the process as easy as possible for the farmers and noted the sum alone won't be enough but with the sale of farm animals some farmers will be very tempted by the offer.