Pradhan Mantri Kisan Maandhan Yojana(PMKMY): The Complete Guide

What is Pradhan Mantri Kisan Maandhan Yojana?

Pradhan Mantri Kisan Maandhan Yajana is a scheme of the government that is intended to protect the elderly and social security for Small and Marginal Farmers (SMF). All Small and Marginal Farmers who have a cultivable landholding of up to 2 hectares, and who fall within the age range of 18-40 years, and whose names appear in the Land records of States/UTs at 01.08.2019 are eligible for benefits under the scheme.

• Under this plan, farmers will receive the minimum guaranteed pension of 3000 rupees per month upon reaching the age of 60.

• The applicants in the age of 18-40 years must pay monthly payments ranging from Rs 110-400 every month until they reach the age of 60.(please check the chart on Kisan Maandhan website
• If the applicant reaches the age of 60,is eligible to be eligible for the amount of pension. Each month, the fixed pension amount is transferred into an account for pensions of the person.

Key Features of Pradhan Mantri Kisan Maandhan Yojana

• Assured monthly pension of Rs 3000
• Matching contribution by Govt. of India
• Voluntary Pension scheme

Eligibility of Pradhan Mantri Kisan Maandhan Yojana

• This scheme is Small and Medium Farmers (SMF)
• Age should be between 18 to 40 years
• Cultivable land upto 2 hectares as per land records

They should not be

1. SMF should not be covered under social security schemes like NPS or Employee state insurance schemes
2. Farmers who have already enrolled to Pradhan Mantri Shram Yogi Maandhan Yojana and National Pension Scheme for Traders and Self Employed Persons.
3. All intuitional land holders
4. Ministers and Ministers of the past and present, State Ministers as well as former or present Members of Lok Sabha/ Rajya Sabha and State Legislative Assemblies/ State Legislative Councils as well as former and current the Mayors and Councilors for Municipal Corporations, former and present District Panchayat Chairpersons.
5. All retired or serving officers or employees Central State Government Ministries/ Offices/Departments and their field units Central as well as State PSEs and Attached offices or autonomous institutions under Government and regular employees of local Bodies (Excluding the Multi-Tasking Staff/Class IV/Group D staff).
6. All persons who had to pay Income Tax during the previous assessment year. who are part of professional bodies or part of a profession like Doctors, Engineers etc. 

Documents required

• Aadhaar Card
• Savings Bank account

Key Benefits of Pradhan Mantri Kisan Maandhan Yojana

In case of death of the eligible subscriber who is under scheme

if the farmer passes away in the course of his or her life, his spouse will be entitled to 50 percent of the pension as a family pension. Family pensions are only available to spouses.

In case of disablement of the subscriber

If the subscriber or member becomes permanently disabled then the spouse can continue the scheme by paying the monthly amount for continuing the scheme or exit the scheme by receiving the share of the contribution deposited with interest earned from Pension Fund or interest on Savings bank account whichever is higher

In case you leave the scheme before the maturity of the scheme

• If the person leaves the scheme within 10 years of starting the scheme then money paid will be returned with simple interest
• If the person leaves the scheme after 10 years of starting it and before 60 years then person will be paid his share of the contribution with accumulated interest from Pension Fund or interest from Savings bank whichever is higher
• If the subscriber dies before the age of 60 then the spouse can continue the scheme by paying the monthly amount required for continuing the scheme or exit the scheme by receiving the share of the contribution deposited with interest earned from Pension Fund or interest on Savings bank account whichever is higher.

How to apply to Pradhan Mantri Kisan Maandhan Yojana scheme?

• Eligible Small and Medium Farmer should visit the nearest Common Service Center with required documents like Aadhaar card and Saving ac details like passbook or cheque
• Initial contribution should be made in cash to the Village Level Entrepreneur (VLE)
• VLE will key the document details and authenticate it
• If the details are correct, then VLE will fill in the application form
• System will auto calculate the monthly contribution payable based on the age of the Subscriber
• Subscriber will pay the amount to VLE and also enroll for monthly auto-debit from the savings account. VLE will scan and submit the details
• Once everything is submitted in the system a unique Kisan Pension Account no will be generated and the Kisan card will be printed and given to the subscriber.

How to apply to Pradhan Mantri Kisan Maandhan Yojana scheme online?

You can visit the Kisan Maandhan portal and either click on Self Enrolment using Mobile number or you can use CSC VLE connect online.

You may also be interested in Pradhan Mantri Kisan Samman Nidhi, please click here to check out.