PM Kisan Maandhan Yojana: How to Apply, Eligibility & Pension Details

PM Kisan Maandhan Yojana: Farmers Can Get ₹3,000 Monthly Pension After 60, Know How to Apply

For small and marginal farmers, planning for financial security after retirement can be a major concern. The PM Kisan Maandhan Yojana is designed to provide eligible farmers with a regular pension after they reach the age of 60.

Under the scheme, eligible farmers can receive a monthly pension of ₹3,000, or ₹36,000 annually, after completing the required contribution period.

Who Can Apply for PM Kisan Maandhan Yojana?

Farmers between 18 and 40 years of age can join the scheme, provided they meet the prescribed landholding criteria.

According to the information highlighted in the report, applicants should have agricultural land of up to 2 hectares, which is approximately five acres.

The contribution amount depends on the age at which the farmer joins the scheme.

How Much Does a Farmer Have to Contribute?

The monthly contribution is linked to the farmer's age at the time of joining.

A farmer joining the scheme at 18 years of age contributes ₹55 per month. The contribution increases with age. For example, it is around ₹100 per month at 30 years, while farmers joining at 40 years may contribute up to approximately ₹200 per month.

One of the key features of the scheme is the government's matching contribution. The government contributes an amount equal to the farmer's contribution towards the pension account.

₹3,000 Monthly Pension After 60

After reaching the age of 60, eligible subscribers receive a pension of ₹3,000 every month.

That means the annual pension works out to ₹36,000.

The scheme is aimed at providing farmers with a financial safety net during their later years when continuing physically demanding agricultural work may become difficult.

PM Kisan Beneficiaries Can Use Automatic Deduction

Farmers who are already receiving benefits under the PM Kisan Samman Nidhi can also use their PM Kisan payments to meet the Maandhan contribution.

For this facility, the farmer's PM Kisan account needs to be linked with the PM Kisan Maandhan scheme. Once linked, the applicable premium can be automatically deducted from the PM Kisan funds, reducing the need to make separate monthly payments.

How to Apply for PM Kisan Maandhan Yojana?

The registration process can be completed through a nearby Common Service Centre (CSC).

Farmers need to carry the necessary documents, including:

• Aadhaar Card

• Bank Passbook

• Land ownership documents

• Other required details for registration

At the CSC, the Village Level Entrepreneur (VLE) completes the registration process using biometric authentication. Once the registration is completed, the farmer's pension card can be generated.

The report also states that farmers do not have to pay a separate registration fee for this process.

What Happens If the Farmer Dies?

The scheme also provides a family pension provision.

If the subscriber dies after the pension has started, the farmer's spouse can receive 50% of the pension, or ₹1,500 per month, as a family pension for life, subject to the scheme's applicable conditions.

Can a Farmer Leave the Scheme?

The scheme also provides an exit provision. If a farmer decides to leave the scheme before completing the required period, the accumulated contribution can be returned along with applicable interest, according to the conditions of the scheme.

Why the Scheme Matters for Farmers

Agricultural income can fluctuate because of weather conditions, crop prices and other factors. For small and marginal farmers, building a separate retirement corpus can therefore be challenging.

PM Kisan Maandhan Yojana attempts to address this gap by combining farmer contributions with government matching contributions and providing a fixed pension after the subscriber reaches 60.

Global Magazines Take

PM Kisan Maandhan Yojana can offer an additional layer of financial security to eligible farmers during their later years. With contributions starting from ₹55 per month for farmers who join at 18 and a promised pension of ₹3,000 per month after 60, the scheme is particularly relevant for small and marginal farmers who want to plan for their long-term financial needs.

Farmers interested in joining should check their eligibility and complete registration through the appropriate CSC facility, while keeping their Aadhaar, bank and land-related documents ready.