Pradhan Mantri Kisaan Maandhan

The PMKMY is a Central Sector Scheme, administered by the Department of Agriculture, Cooperation & Farmers Welfare, Ministry of Agriculture & Farmers’ Welfare, Government of India in partnership with the Life Insurance Corporation of India (LIC).

The Government of India has introduced a voluntary and contributory pension scheme named PMKMY for landholding Small & Marginal Farmers to provide them with social security and a healthy and happy life after they reach their old age.

Under this scheme, a monthly pension of Rs.3,000 will be provided to all eligible Small and Marginal Farmers. Farmers between 18 and 40 years of age are eligible to join the scheme upon payment of monthly contribution between Rs.55 to Rs.200.

Eligibility

• Farmers holding not more than 2 hectares (5 Acres) farmland.
• The age group of 18 to 40 years.
• A monthly contribution of Rs. 55 to Rs. 200 depending on the age of entry. The central government will also make an equal contribution.
• Farmers availing PM Kisan Fund only have to give consent for deduction of monthly contribution from PM Kisan Fund. They need not pay any amount.
• Those farmers who are not covered under PM Kisan have to make payment of an initial contribution in cash to CSC and consent for monthly deduction through auto-debit from the farmer’s bank account.
• Farmers can register without Aadhaar in Assam, Meghalaya and J&K. However, Aadhaar will be provided after enrolment.

Not Eligible

• Farmers having more than 2 hectares of land.
• Income Tax Payee.
• Government Servant including retired, other than Class IV.
• MP / MLA / Minister or public representatives holding another post excluding Gram Pradhan.

What are the benefits of the scheme?

Under the scheme, the subscriber would receive the following benefits:

• Each subscriber under the Pradhan Mantri Kisan Maan Dhan Yojana shall receive a minimum assured pension of Rs. 3000 per month after attaining the age of 60 years.
• During the receipt of a pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension provided he/she is not already a beneficiary of the scheme. Family pension is applicable only to a spouse.
• If a beneficiary has given a regular contribution and died of any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.