About the Scheme
Central sector pension scheme providing ₹3,000 monthly pension to farmers after age 60. Partnership with LIC.
Target Beneficiaries: 18.8 lakh farmers registered. Small and marginal farmers with up to 2 hectares land eligible.
Implementing Agency: Ministry of Agriculture & Farmers Welfare (through LIC as fund manager and CSCs for enrollment)
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
UPSC Relevance
GS Paper: GS2
Prelims Relevance8%
Mains Relevance8%
Syllabus Tags
Farmer welfare schemesSocial security for unorganised sectorAgricultural policiesRural developmentFinancial inclusionGovernment initiatives for farmers