Third Eye News
09 April, 2020
Farmers or the Annadatta’s go through many problems throughout their life including financial crisis, which becomes more difficult in their old age. To help farmers deal with all such problems in their old age, the Centre has launched a pension scheme known as Pradhan Mantri Kisan Mandhan Yojana in August 2019. Under this scheme, farmers between 18 - 40 years of age can register and take monthly pension of Rs. 3000.
So far, 20,121,34 farmers have registered under the Pradhan Mantri Kisan Maandhan Yojana. The pension scheme is for the old age protection as well as social security of small and marginal farmers having 2 hectares of land.
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| PM Kisan Mandhan Yojana: How Farmers Can Get Rs. 36000 Yearly through This Government Scheme |
Under Pradhan Mantri Kisan Maandhan Yojana, farmers will get assured pension of Rs. 3000 per month after completing the age of 60 years and if they die then their spouse will be entitled to receive 50% of the pension as family pension. Remember that a family pension is applicable only to the spouse.
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Benfits of PM Kisan Maandhan Yojana
Guaranteed Pension of Rs. 3000 / month or Rs. 36000/year
Voluntary and Contributory Scheme
Matching Contribution by Government
farmers
Officials of the Ministry of Agriculture have made it clear that there will be no fees to register for PM-KMY. And if a farmer is already getting the benefit of PM-Kisan scheme then he will not have to submit separate documents for this pension yojana.
Under this pension scheme, you can opt to contribute directly from the benefits received from PM-Kisan scheme. This way, you will not have to spend money directly from your wallet.
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If a farmer wants to leave the scheme in between, then his money would not go waste. The amount that has been deposited till his departure will get interest equal to the savings account of banks.
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Monthly contributions for PM Kisan Mandhan Yojana
Farmers have to make a monthly contribution of Rs.55 to Rs.200 and this amount will depend on their age of entry.
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