The 20th installment of the Pradhan Mantri Kisan Samman Nidhi Scheme is being released by the government. Farmers who are registered can check their names through the official website. If farmers do not see their names, they need to find the reason why. Perhaps they can find out how they submitted incorrect information so they can rectify and receive PM Kasan benefits.
Many farmers still do not know how great the PM Kisan Yojana is. When a farmer registers and receives PM Kisan benefits, they also become qualified for a much bigger benefit after they turn 60 years old. Through PM Kisan, the Center will deposit ₹6,000 every year in the farmers account. But if the farmer also contributes to the Pradhan Mantri Kisan Maandhan Yojana, he or she will get ₹42,000 every year during old age. This also leaves many farmers to wonder how this benefit becomes possible.
What Is This Rule?
By being a beneficiary of PM Kisan Samman Nidhi scheme (PM Kisan), a farmer can register directly to the PM Kisan Maandhan Yojana, a pension scheme for farmers. Approximately 20 lakh beneficiaries have already registered. Under the scheme, a farmer will get a pension of ₹3,000 per month once they turn 60 years of age, which totals ₹36,000 per year. Farmers aged 18 to 40 may register for PM Kisan Maandhan.
Contribution Comes From PM Kisan Money
If a farmer is already a PM Kisan member, they will not need to fill out any paperwork to join the Kisan Maandhan Yojana. They will also not be contributing any money towards the pension. The government will be deducting this amount from the money given to PM Kisan on an annual basis. They will simply need to fill out the form (it will likely be a very simple form) once.
The contribution does not have to be large either. If a farmer is aged 18 to 40, the amount they have or will need to contribute is between ₹55 and ₹200 monthly, totalling between ₹660 and ₹2,400 yearly. And they will still receive ₹6,000 annually from PM Kisan.
Receive ₹42,000 Yearly After 60 Years of Age
Farmers receiving their ₹6,000 in PM Kisan will automatically begin getting an additional ₹36,000 in pension when they reach 60 years of age. Therefore, he can receive a total ₹42,000 per year while staying home. The pension contributions will automatically stop after the farmer turns 60.