PM Kisan Maandhan Yojana: With advancing age, the worry about income starts troubling every person. Especially when the body does not support working hard in the fields like before and there is no fixed source of income left in the pocket every month. This concern becomes even deeper for the farmers of our country, because their entire income depends on the nature of weather and crop yield. The Central Government’s ‘Pradhan Mantri Kisan Maandhan Yojana’ (PM-KMY) is proving to be a great support to make the old age of small and marginal farmers secure and financially carefree. Under this scheme, after completion of 60 years of age, eligible farmers are given an assured pension of ₹ 3000 every month i.e. ₹ 36,000 annually.
What is this scheme and how does it work?? PM Kisan Maandhan Yojana
Pradhan Mantri Kisan Maandhan Yojana was launched on 12 September 2019. This is a voluntary and contributory pension scheme, which is being operated by the Union Ministry of Agriculture and Farmers Welfare in collaboration with LIC, the country’s most trusted insurance company. According to government data (PIB), by February 2026, more than 24 lakh 96 thousand farmers across the country had joined this scheme and an amount of more than Rs 540.66 crore has been spent on its expansion.
The most beautiful thing about this scheme is that the farmer does not have to bear the entire burden alone. The amount that a farmer deposits in the pension fund every month from his own pocket, the central government also deposits the same amount in his account.
Contribution is decided according to age
The amount deposited in the pension fund depends on the entry age of the farmer. The eligibility to join the scheme has been kept between 18 to 40 years:
- 18 years old: If a young farmer joins at the age of 18, he will have to deposit only ₹55 every month. The government will also add ₹55 and a total of ₹110 will go to the pension account.
- 20 to 30 years: At the age of 20, ₹ 61, at the age of 25, ₹ 80 and at the age of 30, ₹ 105 have to be paid per month.
- 35 to 40 years: Farmers joining at the age of 35 have to deposit ₹150, ₹170 at 37 and ₹200 per month, joining at the maximum age of 40 years.
That is, the younger you enter this scheme, the lighter will be the premium burden on your pocket. The farmer has to deposit this contribution continuously till the age of 60 years.
Who will get the benefit and how to apply?
The benefit of this scheme is available to those small and marginal farmers who have cultivable land up to a maximum of 2 hectares (about 5 acres) and their name is registered in the land records of the concerned state or union territory as of August 1, 2019.
The application process is very easy. Eligible farmers can enroll by visiting their nearest Common Service Center (CSC). For this, identity card, bank passbook and mobile number are required. After online verification at CSC, auto-debit mandate is set from the bank account. If farmers wish, they can choose the option of payment on monthly, quarterly or half yearly basis. The best thing is that if the farmers wish, they can also pay the premium of this pension directly from the annual installment of ₹ 6000 received from the PM-Kisan Samman Nidhi.