PM Kisan Maandhan Yojana: Securing the Future of Small and Marginal Farmers

Table of Contents

• What is Pradhan Mantri Kisan Maandhan Yojana?
• What are the Features of PM Kisan Maandhan Yojana?
• What are the Benefits of PM Kisan Maandhan Yojana?
  • Benefits in case of Death of Eligible Subscriber
  • Benefits in case of Disablement
  • Benefits of Leaving the Scheme
• What is the Eligibility Criteria for PM Maandhan Yojana?
• How to Apply for the PM Kisan Maandhan Scheme?

What is Pradhan Mantri Kisan Maandhan Yojana?

The Pradhan Mantri Kisan Maandhan Yojana is one of the thoughtful initiatives taken by the Government of India for small and marginal farmers (SMFs). It is an old-age pension scheme for farmers aged 18 to 40 years who hold cultivable land of up to 2 hectares. This voluntary and contributory scheme is effective from 9 August 2019.

The objective of this scheme is to provide financial and social security to small or marginal farmers through a monthly pension. This is because they have minimally no savings or a source of livelihood to support themselves in old age. Under this scheme, upon attaining the age of 60 years, farmers are provided with a minimum fixed pension of Rs. 3,000 per month.

Till December 2025, the total enrollments in the PM Maandhan Yojana were 19,34,447.

What are the Features of PM Kisan Maandhan Yojana?

• The fixed pension of Rs. 3000 will be paid to all the eligible farmers from a pension fund managed by the Life Insurance Corporation of India (LIC).
• In this voluntary, contribution-based pension scheme, farmers are required to contribute an amount based on their age, ranging from Rs. 55 to Rs. 200, to the pension fund until they reach 60 years of age. See the table below.

• The central government will also make the same amount of contribution to the pension fund.
• The monthly contributions will be due on the same date every month as the enrollment date. The farmers have the flexibility to choose an option to pay their contributions on a quarterly, 4-monthly, or half-yearly basis.
• Spouses of eligible farmers are also allowed to join the scheme independently for a separate pension of Rs. 3,000 per month upon reaching the age of 60 years.
• The scheme allows the farmers to leave at any time if they do not wish to continue for any reason. In this scenario, their contributions are returned to them, along with interest.

What are the Benefits of PM Kisan Maandhan Yojana?

Benefits under the scheme have been broadly divided into three categories – benefits to the family if the eligible subscriber dies, benefits on disablement, and benefits on leaving the scheme. Let’s discuss each one of them.

Benefits in case of Death of Eligible Subscriber

During the pension receipt, if the eligible subscriber dies, then the spouse of eligible subscriber gets only 50% of the pension, which is Rs. 1500 per month or can exit the scheme by receiving the share contributed by the subscriber with interest earned by Pension Fund or at a saving bank interest rate, whichever is higher. In the event of the death of both the subscriber and the spouse, the corpus is credited back to the account.

Benefits in case of Disablement

If the eligible subscriber has become permanently disabled before the age of 60 and has made regular contributions, then his spouse is entitled to continue the scheme or exit the scheme by receiving the share contributed by the subscriber with interest earned by the Pension Fund or at the savings bank interest rate, whichever is higher.

Benefits of Leaving the Scheme

• 10 years before the Date of Joining: Return of shares contributed by the subscriber, along with the savings bank interest rate.
• After 10 years but before Retirement Age: Return of share contributed by the subscriber along with the savings bank interest rate or actual interest earned by the Pension Fund, whichever is higher.

What is the Eligibility Criteria for PM Kisan Maandhan Yojana?

• Farmers in the age group of 18 to 40 years are eligble.
• SMFs with cultivable land of up to 2 hectares are eligible for this scheme.
• Farmers’ names should appear in the land records of the States/UTs as on 01/08/2019.
• Farmers should have an Aadhaar card and a savings bank account / PM-KISAN Account.
• Farmers covered under any other social security schemes like the National Pension Scheme (NPS), Employees’ Fund Organization Scheme, etc., are not eligible for the scheme.
• Farmers should not enroll in the Pradhan Mantri Shram Yogi Maandhan Yojana or the Pradhan Mantri Vyapari Maandhan Yojana to make themselves eligible for this scheme.
• Beneficiaries of higher economic status are also not eligible.

How to Apply for the PM Kisan Maandhan Scheme?

Once you have confirmed your eligibility, you can apply for the scheme through the common service centers (CSCs) in various states. To apply for this scheme, follow the steps below:

• Enroll Yourself: Visit the nearest Common Service Centre (CSC) and enroll yourself.
• Pay Initial Amount: Pay the initial contribution to the Village Level Entrepreneur (VLE) in cash.
• Fill up Required Details: The VLE will fill in your Name, Aadhaar number, and date of birth as mentioned on the Aadhar Card for authentication.
• Online Registration: The VLE will fill in the bank account details, mobile number, email address, spouse (if any) and nominee details for completing the online registration.
• Auto Calculation of the Amount: The system then calculates the amount of monthly contribution according to the age of the applicant.
• Pay the 1^st Subscription Amount: Pay the 1st subscription amount in cash to the VLE.
• Enrollment Form: The Enrolment cum Auto Debit mandate form will be printed and then is required to be signed by the subscriber. VLE then scans the same and uploads it into the system.
• KPAN Generated: Once the entire process is completed, a unique Kisan Pension Account Number (KPAN) is generated, and the Kisan Card is printed.

The PM Maandhan Yojana is a significant, affordable, and structured initiative taken by the government not only eradicates the economic vulnerabilities of the small farmers but also empowers them as they age.