PM Kisan Mandhan Yojana: Get pension of Rs 3000 every month under this government scheme

The Government of India has launched a scheme called the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) to provide financial help to farmers in their old age. This scheme is for small and marginal farmers (SMFs) who own up to 2 hectares of land. It is a voluntary pension scheme for farmers aged 18 to 40, and it started on August 9, 2019.

Under this scheme, eligible farmers will receive ₹3,000 every month once they turn 60. The farmers can be either male or female.

Types of Farmers by Land Size:

Marginal: Less than 1 hectare
Small: 1 to 2 hectares
Semi-Medium: 2 to 4 hectares
Medium: 4 to 10 hectares
Large: More than 10 hectares

How does the scheme work?

PM-KMY is managed by the Department of Agriculture and the Life Insurance Corporation of India (LIC). Farmers who want to join the scheme must fill out a form and submit it, allowing monthly contributions to be automatically deducted from their bank account.

Monthly Contribution

Farmers will contribute between ₹55 and ₹200 per month, depending on their age when they join the scheme. If a farmer leaves the scheme early, they won’t receive any extra contributions, but the money will go back to the pension fund. Farmers can choose to pay their contributions quarterly or every six months.

What Happens if a Farmer Dies?

If the farmer dies before reaching 60, the spouse can continue the scheme by paying the remaining contributions. If the spouse dies after the pension starts, the pension amount will be returned to the scheme.

How to Apply for the Pradhan Mantri Kisan Maandhan Yojana?

Offline: Visit a nearby Public Service Center (CSC), submit documents, and complete the application.
Online: Go to the official website maandhan.in to register and apply.