PM Kisan Maandhan Yojana | Pension for Small Farmers

Overview

Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) is a central government pension scheme for small and marginal farmers. Launched in 2019, it guarantees a monthly pension of Rs 3,000 after the farmer turns 60 years old. The scheme is voluntary and contributory in nature.

Objective

PM-KMY aims to provide old-age income security to farmers who have no other pension cover. Small and marginal farmers often face financial vulnerability in their later years. This scheme ensures a regular monthly income once they can no longer work actively.

Benefits

• Monthly pension of Rs 3,000 after age 60
• Government contributes an equal amount to the pension fund as the farmer
• In case of the farmer’s death, the spouse receives 50% of the pension
• Low monthly contribution between Rs 55 and Rs 200 depending on entry age
• Administered through LIC of India for fund management

Eligibility

• Small and marginal farmers with land holding up to 2 hectares
• Age between 18 and 40 years at the time of enrollment
• Must not be covered under other social security schemes like NPS, ESIC, or EPFO
• Must have a savings bank account and Aadhaar number

Exclusions

• Farmers with more than 2 hectares of land are not eligible
• Those already receiving benefits under NPS, ESIC, or PM Shram Yogi Maandhan
• Income taxpayers are excluded
• Former or current constitutional post holders and government employees are not eligible

Application Process

1. Visit the nearest Common Service Centre (CSC)
2. Carry Aadhaar card and savings bank account details
3. Fill in the enrollment form at the CSC
4. Choose the monthly contribution amount based on your age
5. Set up an auto-debit from your savings account
6. Receive a unique Kisan Pension Account Number upon enrollment

Documents Required

• Aadhaar card
• Savings bank account passbook or IFSC details
• Land holding documents (Khatauni)
• Mobile number linked to Aadhaar