Five Successful Years of Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)

Launched on September 12, 2019, the Pradhan Mantri Kisan Maandhan Yojna (PM-KMY) has provided social security to land-holding Small and Marginal Farmers (SMFs) across India. This voluntary and contributory old-age pension scheme offers a fixed monthly pension of Rs. 3,000 to eligible farmers after they turn sixty. Farmers contribute monthly to the pension fund, with matching contributions from the central government.

Successful Implementation of PM-KMY

Under PM-KMY, small and marginal farmers can enroll by paying a monthly subscription to the pension fund. Those aged between 18 and 40 years contribute between Rs. 55 to Rs. 200 per month until age 60. Upon reaching 60, they receive a monthly pension of Rs. 3,000, subject to exclusion criteria. The Life Insurance Corporation (LIC) manages the fund, and registration is facilitated through Common Service Centres (CSCs) and State Governments. As of August 6, 2024, 23.38 lakh farmers have joined the scheme, with Bihar, Jharkhand, Uttar Pradesh, Chhattisgarh, and Odisha showing significant uptake.

Key Benefits Under PM-KMY

Minimum Assured Pension: Subscribers receive a minimum pension of Rs. 3,000 per month after age 60.

Family Pension: If a subscriber passes away, their spouse is entitled to a family pension of Rs. 1,500 per month, provided the spouse is not already a beneficiary.

PM-KISAN Benefit: SMFs can use their PM-KISAN benefits for voluntary contributions by submitting an enrolment-cum-auto-debit-mandate form.

Equal Contribution by Government: The Central Government matches the subscriber’s contributions to the pension fund.

Monthly Contributions: Contributions range from Rs. 55 to Rs. 200, depending on the farmer’s entry age.

Entry Age-Specific Monthly Contribution Chart

Enrolment Process

Farmers can enroll through Common Service Centers (CSCs) or by contacting the Nodal Officer (PM-Kisan) appointed by State or UT Governments. Registration is also available on the official web portal at www.pmkmy.gov.in. Required information includes:

• Farmer’s/Spouse’s name and date of birth
• Bank account number
• IFSC/MICR Code
• Mobile Number
• Aadhaar Number