Pradhan Mantri Kisan Pension Yojana

In a landmark decision, the government has decided to launch a pension scheme for farmers under Pradhan Mantri Kisan Pension Yojana.

About the Scheme

• The scheme aims to provide small and marginal farmers with a minimum fixed pension of Rs 3,000 per month on attaining the age of 60.
• It is a voluntary and contributory pension scheme for small and marginal farmers across the country, with the entry age of 18-40 years.
• The government will match the contribution made by the eligible farmer in the pension fund.
• The spouse of the beneficiary will be entitled to receive 50 per cent of the pension amount, provided he/she is not already a beneficiary of the scheme.
• During the initial phase, the government will cover a minimum of 5 crore small and marginal farmers in the first three years.
• The scheme is expected to cost Rs 10,774.5 crore per annum to the exchequer.

The benefits under PM- KISAN scheme will come handy for the making contribution under the pension scheme for the small and marginal farmers under the Pradhan Mantri Kisan Pension Yojana.