Pradhan Mantri Kisan Maandhan Yojana (PMKMY) Eligibility, Benefits, Enroll Process 2023

The Indian Government has started a Pension Scheme for Farmers whose name is Pradhan Mantri Kisan Maandhan Yojana (PMKMY). If you are a farmer and do not register under it yet then you should do the registration and take the benefits of it. Through this government scheme, farmers can get Rs. 3000 per month as a pension.

Today in this article we will give you the complete details about Pradhan Mantri Kisan Maandhan Yojana (PMKMY), so read the article till the end.

Short Information of PM Kisan Maandhan Yojana

What is Pradhan Mantri Kisan Maandhan Yojana

Pradhan Mantri Kisan Maandhan Yojana (PMKMY) is a scheme launched on 12 September 2019 by the Government of India that provides financial protection to small and underprivileged farmers in their old age. This scheme provides Rs. 3000 guaranteed monthly pensions after the completion of 60 years of age to take care of old-age expenses.

Any farmer in the age group of 18 to 40 years can participate in this scheme. He/she has to make the contribution till the age of 60 years. The range of the contribution would be Rs. 55 to Rs. 200. On the completion of 60 years of age the farmer will get 3000 rupees per month as a pension.

Eligibility Criteria for Pradhan Mantri Kisan Maandhan Yojana

Below are the eligibility criteria for the PMKMY scheme:

• Small and Marginal Farmers.
• Not having more than 2 hectares of cultivable land.
• Age should be 18 to 40 Years at the time of entry into the scheme.
• Should be listed in the State land records as of August 1, 2019.
• Should not be covered under any other government or semi-government schemes such as NPS (National Pension Scheme), EPFO (Employee Provident Fund Organisation) Scheme, ESIC (Employee State Insurance Corporation) Scheme, etc.

Ineligibility Criteria for Pradhan Mantri Kisan Maandhan Yojana

The farmers will be Ineligible in the below case for the PMKMY scheme:

• Small and Marginal farmers are covered under any other social security scheme such as NPS, EPF, ESIC, etc.
• Farmers who have opted for Pradhan Mantri Shram Yogi Maan Dhan Yojana (PMSYM).
• Farmers who have opted for Pradhan Mantri Laghu Vyapari Maan Dhan Yojana (PMLVM).
• Farmers who are on higher privileged beneficiaries such as institutional landholders, former or current minister (Central or State).
• Farmers belong to the category of in-service or retired employees or offices of the Central or State Government offices, departments, or their PSEs, and other Government Autonomous Institutions or Local Bodies.
• Farmers who paid Income Tax in the last assessment year.

Features of Pradhan Mantri Kisan Maandhan Yojana

The following are the features of the PMKMY Scheme:

• This is a voluntary pension scheme.
• This is only for the Small and Marginal Farmers who are having cultivable land of not more than 2 hectares.
• The farmers having the age 18 to 40 years only can apply for this scheme and are required to make monthly contributions to the scheme till the age of 60 years.
• The contribution amount in this scheme is very minimal and the range is from Rs. 55 to Rs. 200 monthly.
• The government also contributes an equal and matching contribution amount per month to the farmers’ account.
• After the maturity of the scheme, the farmers are entitled to receive Rs.3000 monthly as a minimum guaranteed monthly pension.
• The monthly pension starts after the completion of 60 years of age of the farmers.
• In case the farmer died, the spouse of the farmer gets 50% of the amount as a pension for the family.
• After the death of the farmer, only the spouse is eligible for a pension. Children, parents, or any other relatives of the farmer are not eligible.
• On the death of the subscriber/farmer and the death of his/her spouse, the corpus is credited back to the fund.

Benefits of Pradhan Mantri Kisan Maandhan Yojana

There are the following benefits under the PMKMY Scheme:

Pension Benefits

The main benefit of the Scheme is that the farmer gets the amount of Rs. 3000 as a monthly pension to his/her bank account after the completion of 60 years of age. This scheme helps the farmers to fulfill their basic needs in their old age by providing a pension amount.

Government Contribute to Farmers’ Account

The Government also contributes the amount matching the farmers’ contribution amount in the scheme. This means whatever the amount a farmer deposits per month in the scheme, the Government also deposits the same amount to the farmer’s account.

Death Benefits to the Family

The PMKMY scheme not only provides a pension to the farmers in their old age but also provides benefits to the family upon their death. In the case farmer died, the spouse will receive 50% of his original pension for the family.

Disability Benefits

Farmers who register under the PMKMY scheme and regularly contribute to the scheme become permanently disabled before completion of 60 years of age then there are 2 options in this case:

• The farmer’s spouse can continue with the PMKMY scheme after the farmer’s death by contributing regularly as before.

OR

• Farmer can exit the PMKMY scheme and receive his contribution shares accumulated so far along with accrued interest.

Benefits At the Time of Leaving Pradhan Mantri Kisan Maandhan Yojana

The farmer registered under the PMKVY Scheme can leave the scheme if he/she wishes. On leaving the scheme farmer will also receive some benefits which are as follows.

• If the farmer exits the scheme before the completion of 10 years from the date of commencement of the scheme, the farmer will get only his contribution share along with the savings bank interest rate. Government contribution will not be given.
• If the farmer exits the scheme after 10 years or more from the date of commencement of the scheme and does not attend 60 years of age then the farmer will get only his/her contribution share along with accrued interest thereon. This will be the higher amount of interest earned.
• If the farmer died before the completion of the scheme but the contribution was made regularly, if his/her spouse wants to exit the scheme then he/she will be eligible to receive the contribution amount made by the farmer with accrued interest.

Monthly Contribution Benefits

• The PMKMY scheme is a monthly contribution scheme.
• The monthly contribution amount can be between Rs. 55 to Rs. 200.
• The farmer can continue the contribution till the age of 60 years.
• An equal amount is matched by the Government of India and contributed to the farmer’s pension fund.

Table of monthly contributions (Age Specific)

Required Documents for Pradhan Mantri Kisan Maandhan Yojana

Below documents required for applying PMKMY Scheme:

• Aadhaar Card
• Mobile Number
• Savings Bank Account / PM KISAN Account

How to Apply/Enroll for Pradhan Mantri Kisan Maandhan Yojana (PMKMY)

The enrolment in the PMKMY Scheme can be done through self-registration online or through the Common Service Centres.

The process of both mediums (Online and CSC) is shared below.

Applying to PMKMY Scheme Through CSC (Common Service Centre)

• You have to visit the nearest Common Service Centre (CSC).
• You need to carry your Aadhaar Card and Bank Passbook.
• The initial contribution amount in cash will be made to the Village Level Entrepreneur (VLE).
• The VLE will key in the Aadhaar number, Name of the subscriber, and Date of birth as printed on the Aadhaar Card for authentication.
• The VLE will complete the online registration by filling up the details like Bank Account details, Mobile Number, Email Address, Spouse (if any) and Nominee details will be captured.
• The system will auto-calculate the monthly contributions payable according to the age of the Subscriber.
• Subscriber will pay the 1st subscription amount in cash to the VLE.
• The Enrolment cum Auto Debit mandate form will be printed and will be further signed by the subscriber. VLE will scan the same and upload it into the system.
• A unique Kisan Pension Account Number (KPAN) will be generated and Kisan Card will be printed.

Applying to PMKMY Scheme Through Online (Self-Registration)

• Visit the PMKMY Official Website (pmkmy.gov.in)
• Click on the Click Here to Apply Now button.
• After that, you have to enter the Mobile Number and click on the Proceed button to generate OTP.
• After that, an OTP will be sent to your mobile number. Enter OTP and click on the Proceed button.
• After that, click on Enrollment Tab and choose Pradhan Mantri Kisan Maandhan Yojana.
• After that, Enter your Aadhaar Number, Agree to the terms and conditions and click on Fetch Details. The system will automatically fetch your all details.
• If the system does not fetch your details from Aadhaar, in that case, you will have to fill in all the required details like Name, Date of Birth, Gender, Mobile Number, Email Id, State, District, Village, Pincode, Category, and Farmer Category and click on the Submit button.
• After that, you have to fill in the required Bank Details, Nominee Details and Contribution Frequency and click on Submit & Proceed button.
• After that, your Application will be submitted and a Mandate Form will be generated. Click on the Print Mandate Form to download/print.
• After that, Print the Mandate Form and put your Signature where required.
• You have to Scan the Mandate Form after signing it.
• After that, Upload the Scan Copy of the Mandate Form by clicking on Choose File button and finally click on Submit button to complete the registration.
• Now your registration will be complete and a Congratulation message will be seen on the screen.
• A Pension Card will be generated by the system. You can download and print it by clicking on the Download Pradhan Mantri Kisan Maandhan Yojana button.

Conclusion

Pradhan Mantri Kisan Maandhan Yojana (PMKMY) is a very good pension scheme run by the Government of India for the welfare of small and marginal farmers. The PMKMY scheme helps the SMFs by providing them a guaranteed monthly pension of Rs. 3000 to meet their basic needs in their old age. The contribution amount in this scheme is very nominal and the best part is the government also contributes an equal and matching contribution amount per month to the farmers’ account.

FAQs

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