Farmers have to go through many problems including financial crisis, which becomes harder in the old age. In order to help farmers deal with all such problems, the government has launched the Pradhan Mantri Kisan Maandhan Yojana in August 2019. Under this scheme, farmers between 18 to 40 years of age can register and take the benefit. This article will help with the rules/regulations and registration process.
So far, 19, 99,319 farmers have registered under the Pradhan Mantri Kisan Maandhan Yojana. The pension scheme is meant for old age protection & social security of Small & Marginal Farmers having up to 2 hectares of land.
Under Pradhan Mantri Kisan Maandhan Yojana, farmers will get a minimum assured pension of three thousand rupees per month after completing the age of 60 years and if the farmer dies then the spouse will be entitled to receive 50 percent of the pension as family pension. It is important to mention that family pension is applicable only to the spouse.
Features of PM Kisan Maandhan Yojana
-
Assured Pension of Rs. 3000 per month
-
Voluntary & Contributory Pension Scheme
-
Matching Contribution by Government
PM Kisan Maandhan Yojana Benefits
Officials of the Ministry of Agriculture said that there will be no fees or charges to register for PM-KMY. If a farmer is already availing the benefit of PM-Kisan yojana then he will not have to submit separate documents for this pension scheme.
In addition, under PM-KMY, you can choose to contribute directly from the benefits received from PM-Kisan yojana. This way, you will not have to spend money directly from your pocket.
If a contributor exits the scheme within a period of less than 10 years from the date of joining then his share of contribution will be returned to him with savings bank rate of interest payable thereon.
How much contributions you need to make monthly?
Farmers have to make a monthly contribution of Rs.55 to Rs.200 and this amount depends on their age of entry.
Entry age-specific monthly contribution
|
Entry Age (Yrs)
|
Superannuation Age |
Member’s monthly contribution (Rs) |
Central Govt’s monthly contribution (Rs) |
Total monthly contribution (Rs) |
|
18 |
60 |
55.00 |
55.00 |
110.00 |
|
19 |
60 |
58.00 |
58.00 |
116.00 |
|
20 |
60 |
61.00 |
61.00 |
122.00 |
|
21 |
60 |
64.00 |
64.00 |
128.00 |
|
22 |
60 |
68.00 |
68.00 |
136.00 |
|
23 |
60 |
72.00 |
72.00 |
144.00 |
|
24 |
60 |
76.00 |
76.00 |
152.00 |
|
25 |
60 |
80.00 |
80.00 |
160.00 |
|
26 |
60 |
85.00 |
85.00 |
170.00 |
|
27 |
60 |
90.00 |
90.00 |
180.00 |
|
28 |
60 |
95.00 |
95.00 |
190.00 |
|
29 |
60 |
100.00 |
100.00 |
200.00 |
|
30 |
60 |
105.00 |
105.00 |
210.00 |
|
31 |
60 |
110.00 |
110.00 |
220.00 |
|
32 |
60 |
120.00 |
120.00 |
240.00 |
|
33 |
60 |
130.00 |
130.00 |
260.00 |
|
34 |
60 |
140.00 |
140.00 |
280.00 |
|
35 |
60 |
150.00 |
150.00 |
300.00 |
|
36 |
60 |
160.00 |
160.00 |
320.00 |
|
37 |
60 |
170.00 |
170.00 |
340.00 |
|
38 |
60 |
180.00 |
180.00 |
360.00 |
|
39 |
60 |
190.00 |
190.00 |
380.00 |
|
40 |
60 |
200.00 |
200.00 |
400.00 |
What to do if anyone wants to leave the scheme in between?
If anyone wants to leave the pension scheme in between, then his money will not go waste. The money that has been deposited till his departure would get interest equal to the savings account of banks. If a farmer dies, then the spouse will continue to get 50% of the amount. LIC will manage the pension fund of farmers.
How to Register/Apply for PM Kisan Maandhan Yojana
Step 1 - Eligible farmers who want to join the scheme will have to visit nearest Common Service Centre (CSC).
Step 2 - Following are the prerequisites for enrolment process:
-
Aadhaar Card
-
Savings Bank Account Number with IFSC Code
Step 3 - Initial contribution amount in cash will be made to the Village Level Entrepreneur.
Step 4 - He will enter the Aadhaar number, Name of subscriber & Date of birth as printed on aadhaar card for authentication.
Step 5 - He will also complete the online registration by filling up the details like Mobile Number, Bank Account details, Email Address, Spouse name and Nominee details.
Step 6 – After that system will auto-calculate monthly contribution payable according to the age.
Step 7 - Subscriber will pay the 1st subscription amount in cash to the VLE.
Step 8 - Enrolment cum Auto Debit mandate form will be printed & will be further signed by the subscriber. The Village Level Entrepreneur will scan the same & upload it into the system.
Step 9 - A unique Kisan Pension Account Number would be generated & Kisan Card will be printed.
Click to Find Common Service Centre - https://locator.csccloud.in/
PM Kisan Mandhan Yojana Self Enrollment Process
The PM-KMY enrollment can be done through self-registration online or via Common Service Centres in different states. The enrollment is free of cost.
For online self-enrollment, click this link - PM Kisan maandhan yojana
For more details of PM Kisan Maandhan Yojana click - https://maandhan.in/
