Kisan Maandhan Yojana: Farmers can now receive a monthly pension after the age of 60, just like government employees. It’s often observed that as they age, farmers become physically incapable of farming, resulting in the loss of their source of income. Addressing this problem, the central government has launched the Pradhan Mantri Kisan Maandhan Yojana to empower farmers with self-reliance in their old age.
Key Takeaways
Quick Read- The PM Kisan Maandhan Yojana is a pension scheme.
Launched in 2019, this scheme aims to economically empower small and marginal farmers who lack other means of livelihood. Under this scheme, any farmer between the ages of 18 and 40 can register for the PM Maandhan Yojana. The biggest advantage of this scheme is that the investment amount is very modest, less than the cost of a day’s tea and snacks. The PM Kisan Maandhan Yojana is a pension scheme. Investments start at Rs 55 per month, up to a maximum of Rs 200. If a farmer joins the scheme at the age of 18, they will only need to pay a premium of Rs 55, which doesn’t put a strain on their budget.
Another commendable feature of the Pradhan Mantri Kisan Maandhan Yojana is that it is based on the principle of “matching contribution.” This means that the central government contributes an equal amount to the farmer’s pension fund for the premium amount he or she deposits into his or her account. For example, if your monthly premium is Rs 100, the government will also contribute Rs 100.
This benefit isn’t limited to the farmer alone, but also provides protection to their family, especially the farmer’s wife. If the beneficiary farmer passes away due to any reason, his wife will continue to receive 50 percent of the pension, or Rs 1,500 per month, as a family pension. Farmers between the ages of 18 and 40 can benefit from this scheme. They must not own more than 2 hectares of land. If a farmer is already a member of any other government pension or social security scheme, such as the EPFO, NPS, or ESIC, they cannot avail of this scheme.
Farmers can register for the PM Kisan Maandhan Yojana by visiting their nearest Common Service Center (CSC). To register, farmers need to bring their identity card, bank passbook, and a copy of their land documents, such as the Khasra Khatauni. The Pradhan Mantri Kisan Maandhan Yojana (PM-KISAN) is a new chapter in the journey of self-respect and a dignified life for farmers. Through this scheme, farmers can now focus on their farming, free from the worries of old age. A small saving of Rs 55 today can become a significant asset for the future, saving farmers from having to beg for help.
