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The Pradhan Mantri Kisan Mandhan Yojana (PM‑KMY) is a voluntary, contributory pension scheme for small and marginal farmers in India. What is PM‑KMY? Launched on September 12, 2019, this scheme aims to provide long-term financial security. Small and marginal farmers (up to 2 hectares of land), aged 18–40, can voluntarily enroll .After turning 60, farmers receive a fixed pension of ₹3,000 per month—that’s ₹36,000 per year
Contributions. Monthly member contributions depend on age at entry: •At 18 years, ₹55/month, matched by government → total ₹110/month. •At 40 years, ₹200/month, matched by government → total ₹400/month. •Government contributes equally each month to build your pension fund.
Eligibility. •age: 18–40 years at enrolment •Landholding: Up to 2 hectares (as per official records) •Must have: Aadhaar, savings bank account
Ineligible categories: °Farmers with over 2 hectares land. °Those already in other pension/social‑security schemes (like NPS, ESIC). °Income-tax payers, professionals (Doctors, CAs, Engineers), and government employees.
Family and Withdrawal Provisions. •If the farmer passes away after becoming eligible, spouse receives a 50% family pension (₹1,500/month).
•If the farmer dies before 60: The spouse can continue contributions to receive full pension at 60;Or withdraw contributions with interest, based on actual fund returns.
• If you leave the scheme before 10 years, you receive only your contributions plus bank interest; •If after 10 years but before 60, again you get contributions plus accumulated fund returns .
* How to enroll 1. Visit your nearest Common Service Centre (CSC) or apply online on the Mandhan portal . 2. Submit documents: Aadhaar, bank details, age proof, land records, spouse/nominee info . 3. VLE (CSC operator) completes Aadhaar verification, calculates premium, and issues your Kisan Pension Account Number (KPAN) and pension card.
* Why it’s Important. °provides a guaranteed monthly pension, offering financial independence in old age. °Government’s matching contribution doubles your savings over time. °Acts as a social safety net to reduce dependency in later year
*In a NutshellPM-Kisan Mandhan Yojana is a smart, low-cost way for small farmers to secure a ₹3,000/month pension during retirement. Both you and the government pitch in monthly, and if circumstances change, your contributions are safeguarded with interest. Enroll early via your nearest CSC to start building your retirement cushion.
