Pradhan Mantri Kisan Maandhan Yojana (PM Kisan Maandhan Yojana) is an important pension scheme launched by the central government, which aims to provide social security to small and marginal farmers of the country. This scheme was launched in 2019 by Prime Minister Narendra Modi, with the aim of providing financial assistance to farmers in old age, so that they can feel financially secure.
Objective of the scheme
Most of the farmers in India are small and marginal, who have limited resources. In old age, when physical labour becomes difficult, these farmers need other sources for livelihood. The main objective of PM Kisan Maandhan Yojana is to reduce the difficulties of farmers by giving them financial support in old age and make them self-reliant.
Who can get pension?
This scheme is for farmers between the age of 18 to 40 years.
The farmer should have 2 hectares or less cultivable land.
Those farmers who are not already availing the benefit of any other pension scheme or government pension can apply in this scheme.
Benefits under the scheme
Under the PM Kisan Maandhan Yojana, farmers are provided a pension of Rs 3,000 every month on completion of 60 years of age. For this, the farmer has to make a monthly contribution according to his age, which can range from Rs 55 to Rs 200. The government also gives an amount equal to the contribution made by the farmer for this pension.
How to apply for the scheme?
To apply in this scheme, farmers have to go to their nearest Common Service Center (CSC) and register. The following documents are required for registration:
Aadhar card
Land Documents
Bank account statement
After registration, farmers receive a pension scheme card, which contains all the details related to the scheme.
Premium Payment and Benefits
The premium in the scheme is decided based on the age of the farmer. For example, if a farmer joins the scheme at the age of 30, he will have to contribute Rs 100 every month.
On the death of the farmer, his wife will get 50% of the amount as pension. If for any reason the farmer wants to exit the scheme before the age of 60, the amount deposited by him will be returned along with interest.
Benefits of the scheme
Financial Security: Getting pension in old age gives financial stability to the farmers.
fixed income: After the age of 60, a pension of Rs 3,000 every month becomes a permanent income source.
Government Support: The government contributes an amount equal to the farmer’s contribution, making the scheme more beneficial.
Transparency: This scheme is completely transparent and frees the farmer from worrying about his future.
Pradhan Mantri Kisan Maandhan Yojana is a great relief for those farmers who may face difficulties in old age without any fixed income. Under this scheme, not only can farmers secure their old age, but their standard of living also improves.