Pradhan Mantri Kisan Mandhan Yojana

By | December 31, 2020

Pradhan Mantri Kisan Mandhan Yojana

The greatest security for any person is his financial security. Farming is a business full of uncertainties. Nowadays working class people get pension benefits but what about farmers doing farming business? A farmer does not get pension benefit when he thinks of retiring from his farming business. That is why the government has introduced Pradhan Mantri Kisan Mandhan Yojana for small and marginal farmers with less than 2 hectares of land.

The farmer works hard all his life but in his old age he does not have a system of regular fixed income.

The ability to earn income decreases with age.  Ensuring a monthly income provides a guarantee of a dignified life in old age when living expenses are on the rise. For this, the government has implemented Pradhan Mantri Kisan Mandhan Yojana for farmers.

First of all, if we talk about the eligibility to take advantage of this scheme, then farmers with two hectares or less of land can take advantage of this scheme. All farmers between the ages of 18 to 40 will be able to avail the benefits of this scheme.  Husbands and wives of one family can also join the scheme, but both have to contribute separately.

To avail the benefits of the scheme, the farmer has to present his Aadhaar card and bank account passbook.

To avail the benefits of this scheme, the farmer has to go to the nearest Common Service Center and register online. If the farmer has registered online, he can go to the site https://pmkmy.gov.in and fill up the online form for the scheme himself.

Under this scheme, there is a provision to give Rs. 3,000 per month to the farmer after the age of 60 years. If the beneficiary of the pension dies, his / her spouse will continue to receive 50% of the monthly pension amount of Rs. 1500 / -. In case of death of the beneficiary before the commencement of pension, the amount credited to the account of the farmer along with interest will be received by his spouse. If the farmer does not want to take advantage of this scheme and stops taking advantage of the pension scheme in the meantime, he will get back the amount paid till then with interest.

Under this pension scheme, the farmer has to deposit the amount fixed according to his age every month. The amount of contribution to be credited to the account for this scheme varies for the farmer between 18 to 40 years. The amount is Rs 55 for an 18-year-old farmer, while it is Rs 200 for a 40-year-old farmer. The beneficiary farmer has to pay the amount according to his age from the time he starts paying the amount till the farmer reaches 60 years of age. The government will also contribute as much as the farmer contributes every month. For an 18-year-old farmer, the amount is Rs 55 per month, which means he has to pay Rs 660 for twelve months at Rs 55 per month. And since he is 18 years old, he has to pay this amount till he turns 60, i.e. for 42 years, which means he pays a total of Rs.

More scheme information: https://pmkmy.gov.in/

Following this simple procedure, all farmers between the ages of 18 to 40 years with two hectares or less of land can avail the benefits of the scheme and can avail pension at the age of 60 years. The government has set a target of registering one crore small and marginal farmers across the country under the Pradhan Mantri Mandhan Yojana through the Common Service Center.

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