Pradhan Mantri Kisan Maandhan Yojana

✦Key Features

• Voluntary and contributory pension scheme.
• Assured monthly pension of Rs. 3000 after attaining 60 years of age.
• Matching contribution by the Central Government.
• Spouse is also eligible to join the scheme separately.
• Enrollment through Common Service Centres (CSCs).

✓Eligibility Criteria

• Small and Marginal Farmers (SMFs) owning cultivable land up to 2 hectares.
• Age between 18 and 40 years.
• Must not be covered under any other statutory social security schemes like NPS, EPF, ESIC etc.
• Not a beneficiary of any other government-funded pension scheme.

★Benefits

• Assured monthly pension of Rs. 3000 upon attaining the age of 60 years.
• Provision for family pension for the spouse upon the death of the pensioner.
• Option to voluntarily exit the scheme and receive accumulated contributions with interest.
• Financial security and social protection for farmers in their old age.

▶Application Process

• Visit the nearest Common Service Centre (CSC) with required documents.
• Provide Aadhaar number, bank account details, and land records.
• Complete the registration process and auto-debit mandate form for monthly contributions.
• A unique Kisan Maandhan Pension Account Number will be generated.
• A Kisan Maandhan Card will be issued.

₹ Budget Allocation

100

Funding Ratio (Centre:State): 50% by Subscriber : 50% by Central Government

Historical Context

Launched in September 2019 to provide a safety net to small and marginal farmers who have no other source of pension.