Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)

About

The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) is a social security scheme for Small and Marginal Farmers (landholding up to 2 hectares).

Eligibility

All landholding Small and Marginal Farmers are eligible for the scheme.

Current Status (August 2024)

23.38 lakh farmers have been enrolled under the scheme.

Leading states include Bihar, Jharkhand, Uttar Pradesh, Chhattisgarh, and Odisha.

Key Benefits

• Monthly Contributions: ₹55 to ₹200 based on age.
• Government Contribution: Equal to the farmer’s contribution.
• Pension: ₹3,000 per month at the age of 60 years.
• Family Pension: ₹1,500 per month to the spouse.
• PM-KISAN: Can be used for pension contribution.

Exiting

Before 60 years: Refund of contribution plus interest.

Post-death: Spouse receives ₹1,500 per month.

Management

The scheme is managed by LIC (Life Insurance Corporation of India), and registration can be done through CSCs (Common Service Centres) and State Governments.