PM Kisan Maandhan Pension Yojana (PMKMY) 2019-20 [Eligibility Criteria, How to apply, Premium Chart, Registration Form Online Download, Amount, List, Guidelines, FAQ, last date, Exit Policy, Documents, Helpline]
Safeguarding the rights of the farmers have been on the top of Modi’s “to do” list. Several schemes have already been implemented, which support agricultural development. Additionally, the central government is also aware of the hardships of old farmers, who can no longer work on the farms. To aid such people, Modi government has launched a new pension scheme for the farmers. The Pradhan Mantri Kisan Mandhan Yojana enables the farmers to save money for leading a secure future. In this article, you will learn about the features, application procedure, eligibility and documents necessary for this farmer pension scheme.
|Name of the scheme||Pradhan Mantri Kisan Maandhan Yojana or PM-KMY|
|Launched by||Narendra Modi|
|Announced by||Narendra Singh Tomar|
|Date of launch||2018 – 2019|
|Date of registration announcement||9th Aug|
|Venue of announcement||Krishi Bhawan|
|Supervised by||Ministry of Agriculture & Farmers Welfare|
Key features of the PM Kisan Maandhan Yojana
- Development of farmers – The financial condition of the farmers in India is rather shaky. The new project will offer financial security to old and poor farmers and those who depend on them. It will help in eradicating the sorry economic condition of Indian agricultural workers.
- Pension scheme for agricultural workers – Under this scheme, farmers can contribute towards their pension fund for a fixed number of years. Once the account matures, these pensioners will receive a steady income from their pension accounts.
- Pension amount – It has been mentioned in the official scheme draft that all pensioners will receive Rs. 3000 as pension.
- Frequency of payment – The pension amount will be transferred in the bank account of these farmers on a monthly basis.
- Pension attainment age – The pension account will mature when the account holder attains the age of 60 years. They will then start getting the monthly grant.
- Contribution amount (Premium) – The amount that needs to be contributed in the pension fund will vary according to the age of the farmer. If the farmer registers at the age of 18, then he will have to pay Rs. 55 every month. In case the farmers starts at an older age, then this amount can go up to Rs. 250.
Other important guidelines for PM Kisan Maandhan Yojana –
- Mandatory contribution tenure – The farmers will have to deposit money in the pension funds for at least five years continuously to keep it active. The beneficiary may stop the contributing after this, and get the money that has accumulated so far.
- Separate pension account for spouse – The main account holding farmer can name his spouse as the nominee. Additionally, he can activate another account that is in the name of the spouse. Monetary contributions must be made in this account separately.
- Central government’s contribution – To encourage more eligible farmers to join this scheme, the central government has states that it will match the contribution of the respective farmer in the pension account. Additionally, farmers will also get an interest on the accumulated money.
- Pension fund management organization – The central government has handed over the responsibility of managing the pension scheme to the Life Insurance Corporation of India or LIC.
- In case of death of main pensioner – If the farmer passes away, then the nominee will be able to withdraw the amount. If the spouse has been registered as the nominee, then he/she will attain 50% of the total pension amount. It will be considered as the family pension.
Eligibility Criteria for PM Kisan Maandhan Yojana
- Only for agricultural workers – If any farmer wants to attain the perks of this project, then he/she must be a resident of any state of union territory of India.
- Small and marginal farmers only – To become a part of this pension scheme, farmers must fall in small or marginal class. Agro-workers who own large farm lands will be barred from this scheme.
- Individuals below poverty level – It is imperative that the interested farmers have their names registered in the BPL list.
- Age requirement – The scheme draft highlights that only those agricultural workers will be allowed to attain the pension benefits that fall within the age bracket of 18 years and 40 years.
- Land holder – The farmer should not have 5 acres or more of land.
Documents necessary for PM Kisan Maandhan Yojana
- Residential proof – The scheme is only open for the farmers who are legal residents of India. Thus, residential document, issued by the respective state governments is mandatory.
- BPL certificate – The farmers need to furnish a photocopy of their BPL certificate as well.
- Age proof – Due to the age criterion, interested applicants need to submit any document that highlights their present age.
- Farmer registration certificate – The farmers need to submit a copy of their official agricultural registration certificate to confirm that they belong to either the small or marginal category.
- Aadhar card – The Aadhar card is the main document that will help the CSC executives to check the ID claims.
- Bank account details – There is no scope for manual money transfer, and everything will be done through the banks. It offers transparency and effectiveness. Farmers must furnish a document that contains the bank and account details to aid the money transfer process.
- Land documents – Farmer should submit land documents at the registration time.
How to apply for the pension scheme?
Offline Application Process for PM Kisan Maandhan Yojana
- All eligible and interested farmers need to arrange their documents and reach the Common Service Centers or the CSCs, which are located in the respective areas.
- Once they reach the center, they must approach the CSC executives and state that they want to register for the Prime Minister Kisan Mandhan Yojana.
- The executives will take their documents and run a quick check to ensure that the claims made by the farmers are true.
- Once this is over, these executives will open the digitized application form and fill in the details on behalf of the farmers.
- Though the agricultural workers need not pay any money for the application process, they need to pay a small fee of Rs. 30 for the service they will receive at the CSCs.
- Till date, this is the only way to enroll for the old age farmer pension scheme. The central authority is also deliberating on providing the same registration services from the PM-Kisan State Nodal Offices.
PM Kisan Mandhan Yojana Online Portal –
The central government may soon launch an online portal, dedicated to this scheme, through which, farmers will be able to enroll without any help from others.
Indian farmers have to deal with several natural and artificial issues, which are behind their dwindling profits. Lack of mechanization makes it impossible for the Indian agricultural workers to continue their activities after a certain age. Special pension schemes for these farmers will offer them a steady income after they come under the senior aged category. Even if they no longer toil on their farms, they will get a monthly amount that will help them to meet their expenses. Indian government has been working on schemes, which offer social and financial security to the poor farmers. This pension scheme is another addition to that list.
Premium Chart –
|Enter age||Beneficiary Contribution (in Rs)||Central Government Contribution (in Rs)||Total Contribution (in Rs)|
Q: What is the pension amount that farmers will get on a monthly basis?
Ans: Every registered pension holder will get Rs. 3000 as a monthly pension.
Q: What is the range of the contribution amount?
Ans: The starting point of the contribution amount is Rs. 55. The upper limit of the contribution amount is Rs. 250.
Q: What is the age criterion to apply for the scheme?
Ans: Farmers, who are 18 years or above will be able to apply for this scheme. The maximum age that will be permitted under this scheme is 40 years.
Q: Is online application possible?
Ans: As of now, only offline application is possible through the CSCs.
Q: Do farmers need to pay any money for application?
Ans: The farmers need to pay a Rs. 30 at the CSCs as the executives helped them in registering.
Q: Who will monitor the scheme?
Ans: The LIC will manage the activities of the scheme.
Other links –
- Delhi Free Wi-Fi scheme
- Smartphone Distribution to Anganwadi workers Delhi
- PM Laghu Vyapari Mandhan Pension Yojana Form
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