PM-Kisan Maan Dhan Yojana (PM-KMY)

✦Key Features

• ₹3,000/month guaranteed pension to small/marginal farmers after age 60
• Voluntary contributory: premium ₹55-200/month depending on entry age
• Government matches the farmer's contribution 1:1
• Family pension: spouse gets 50% (₹1,500/month) on farmer's death
• Exit: after 10 years can withdraw with interest; before 10 years — savings bank rate
• 23+ lakh farmers enrolled (target was 5 crore by 2022)
• Managed by LIC (Life Insurance Corporation of India)

✓Eligibility Criteria

• Small and marginal farmers (up to 2 hectares land holding)
• Entry age between 18 to 40 years
• Should be eligible beneficiary of PM-KISAN
• Should not be covered under other social security schemes

★Benefits

• Guaranteed monthly pension of Rs. 3,000 after age 60
• Government matches farmer's contribution
• Family pension in case of death during contribution period
• Return of contribution with interest if exit before 60
• Social security for farming community

▶Application Process

• Enroll through Common Service Centre (CSC)
• Submit Aadhar card and bank details
• Make first monthly contribution
• Receive pension account number
• Continue monthly contributions till age 60

₹ Budget Allocation

900

Funding Ratio (Centre:State): Contributory Scheme: 50% by the subscriber and 50% matching contribution by the Central Government.

Historical Context

Launched in August 2019 at Ranchi, Jharkhand, as part of the government's strategy to double farmers' income and provide comprehensive social security to the rural workforce.