Last Update: February 16, 2023, 10:55 IST
This government scheme was created to provide social security and old age security to the small and marginal farmers (SMF).
In case of death of the farmer, the wife/husband of the farmer will be eligible to get 50% pension.
Government of India has launched several programs for the welfare of farmers, which include PM Kisan Samman Nidhi, Kisan Samridhi Kendra, Kisan Credit Card Program and Pradhan Mantri Krishi Sinchai Yojana. Farmers get Rs 6000 annually through PM Kisan Samman Nidhi in three equal installments of Rs 2000 each. The central government has also created the Pradhan Mantri Kisan Maandhan Yojana (PMKMY) to help farmers in their old age. This government scheme was created to provide social security and old age security to the small and marginal farmers (SMF).
All small and marginal farmers having cultivable land up to 2 hectares and aged between 18 and 40 are eligible for enrollment in the pension scheme under the program if their names appear in the land registers of the States/UTs are included in After turning 60, farmers covered under this program will get a minimum guaranteed pension of Rs 3000 per month. In case of death of the farmer, the spouse of the farmer will be eligible to receive 50% of the pension as ‘Family Pension’. Children are not eligible to be beneficiaries of family pension, only spouse is.
Registrants between 18 and 40 will be required to make monthly contributions, ranging from Rs 55 to Rs 200, till they reach the age of 60 years. The applicant or the subscriber can claim the pension on reaching the age of 60 years. Every month a fixed pension amount is added to their account.
Following the scheme, the government provides a matching contribution. If a farmer contributes Rs 100 every month to the pension fund, the government will match that contribution. 1,92,5,369 farmers have so far chosen to participate in the Pradhan Mantri Kisan Maandhan Yojana.
It should be noted that only those small farmers who are not covered under any other statutory social security programme, such as the National Pension Scheme (NPS), the Employees’ State Insurance Corporation programme, or the Employees’ Fund Organization programme, are eligible. Prime Minister Kisan Maandhan Yojana. Farmers who have opted to participate in Pradhan Mantri Shram Yogi Maandhan Yojana and Pradhan Mantri Vyapar Maandhan run by the Ministry of Labor and Employment are likewise not eligible to register for PMKMY.
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