India’s economy is deeply rooted in agriculture, and strengthening farmers’ financial stability has long been a key priority for the government. While the PM Kisan Samman Nidhi provides annual income support of ₹6,000, long-term financial security during old age is addressed through a lesser-known but powerful initiative — the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY).
This pension scheme is designed especially for small and marginal farmers who often lack steady post-retirement income. By contributing a small monthly amount during their working years, farmers can ensure a fixed pension for life after the age of 60.
What Is PM Kisan Maandhan Yojana and How Does It Work?
PM-KMY is a voluntary and contributory pension scheme. This means participation is optional, and the farmer contributes a fixed amount every month based on their age at the time of enrollment. What makes the scheme attractive is the government’s equal contribution — for every rupee the farmer invests, the central government contributes the same amount to the pension fund.
Once the farmer turns 60 years old, they become eligible to receive a guaranteed monthly pension of ₹3,000, which translates to ₹36,000 annually, for the rest of their life.
Who Is Eligible to Join the Scheme?
To ensure the benefits reach the intended population, the government has defined clear eligibility criteria:
- Age Limit: Farmers must be between 18 and 40 years at the time of enrollment.
- Landholding Criteria: Only small and marginal farmers owning up to 2 hectares (about 5 acres) of cultivable land are eligible.
- Other Pension Schemes: Applicants should not be members of other government-backed pension or social security schemes such as NPS, EPFO, or ESIC.
Monthly Contribution: How Much Do Farmers Need to Pay?
The monthly contribution depends on the farmer’s age at the time of joining:
- At 18 years, the contribution is as low as ₹55 per month
- At 29 years, the monthly contribution is ₹100
- At 40 years, the contribution increases to ₹200 per month
An added convenience is that farmers already receiving benefits under PM Kisan Samman Nidhi can choose to have their pension contribution automatically deducted from their installments.
How to Apply for PM Kisan Maandhan Yojana
The enrollment process is simple and fully digitized:
- Visit the nearest Common Service Centre (CSC) with your Aadhaar card and bank passbook.
- The CSC operator completes the online registration free of cost.
- After successful registration, the farmer receives a Kisan Pension Card with a unique pension account number.
Family Security Even After the Farmer’s Lifetime
The scheme also provides protection to the farmer’s family. In case of the farmer’s death after pension commencement, the spouse is entitled to a family pension of ₹1,500 per month, ensuring continued financial support.
Why This Scheme Matters
PM Kisan Maandhan Yojana promotes financial independence and dignity for farmers in their old age. A small monthly investment today can secure a stable income tomorrow. Eligible farmers should consider enrolling early to maximize long-term benefits and ensure a worry-free retirement.
