The Government of India has a special scheme – Pradhan Mantri Kisan Maandhan Yojana. This scheme provides pension to farmers in old age. This scheme is for all the landholding small and marginal farmers (SMF) of the country. It is a voluntary and contributory pension scheme for the age group of 18 to 40 years. This scheme is effective from August 9, 2019. If you also fall in the category of eligible farmers, then you can also take advantage of this scheme. Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) provides for ensuring a monthly pension of Rs 3000 to all landholding small and marginal farmers (SMFs), whether male or female, on attaining the age of 60 years. Small and marginal farmers mean farmers who own cultivable land up to 2 hectares, as per the land records of the concerned state or union territory.
Understand the category of farmers
Category land size
Marginal less than 1.00 hectares
Small 1.00 – 2.00 hectares
Semi-medium 2.00 – 4.00 hectares
Medium 4.00 – 10.00 hectares
Large 10.00 hectares and above
This work has to be done
Pradhan Mantri Kisan Maandhan Yojana is a central sector scheme operated by the Department of Agriculture, Cooperation & Farmers Welfare, Ministry of Agriculture & Farmers Welfare, Government of India in partnership with Life Insurance Corporation of India (LIC). Small and marginal farmers who are willing to use their PM-KISAN benefits to contribute towards Pradhan Mantri Kisan Maandhan Yojana are required to auto-debit their bank accounts in which their PM-KISAN benefits are credited. They have to sign and submit the nomination-cum-auto-debit-mandate form to give their consent, so that their contributions can be paid automatically.
Contribution will have to be given between Rs 55 to Rs 200 per month.
In case of premature exit, co-contribution will not be paid to the subscribers. In such a case, the co-contribution along with the fund income will be transferred back to the pension fund. State/UT Governments will have the option to share the burden of contribution of the individual SMF beneficiary. Monthly contribution will be payable on the same day every month as per the enrollment date. Beneficiaries can also choose to pay their contributions on quarterly, quarterly or half yearly basis. Such contributions will be payable on the same day of the same period as the date of enrolment. The amount of monthly contribution will be between Rs 55 to Rs 200 per month depending on the age of the farmers at entry into the scheme.
understand this
In the event of death of the subscriber before the vesting date, the spouse of the subscriber will have the option to continue the scheme by paying the remaining contributions under the scheme, provided he is not already an SMF beneficiary of the scheme. The rate of contribution and vesting date will remain the same. Equal pension will be payable to the spouse. On death of the spouse after the vesting date, the pension corpus will be transferred back to the pension fund.
Where can you apply
If you choose offline option then you will have to apply by visiting your nearest Public Service Center (CSC). There you have to apply for the scheme by submitting your documents. If you choose the online option, then to avail the benefits of this scheme, you will have to visit the official website maandhan.in.
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