Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)

Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)

UPDATE ON : 11TH APRIL 2020

1. What is Pradhan Mantri Kisan Maan-dhan Yojana (PM-KMY)? 

It is an old-age pension scheme for all landholding Small and Marginal Farmers (SMFs) in the country. It is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years with a provision of payment of Rs. 3000/- monthly pension on attaining the age of 60 years, subject to certain exclusion criteria. 

2. What is the definition of Small and Marginal landholder farmer? 

A Small and Marginal landholder farmer is defined as a farmer who owns cultivable land up to 2 hectares as per land record of the concerned State/UT. 

3. What are the benefits of the scheme?

Under the scheme, the subscriber would receive the following benefits: 
(i) Minimum Assured Pension: Each subscriber under the PM-KMY shall receive a minimum assured pension of Rs. 3000/- per month after attaining the age of 60 years. 

(ii) Family Pension: During the receipt of a pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension provided he/she is not already a beneficiary of the scheme. Family pension is applicable only to a spouse. 

(iii) If a beneficiary has given regular contribution and died of any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal. 

4. Who is eligible to get the benefits under the Scheme? 

All Small and Marginal Farmers having cultivable landholding up to 2 hectares falling in the age group of 18 to 40 years, whose names appear in the land records of States/UTs as on 01.08.2019 are eligible to get benefit under the Scheme. 
However, out the these, the following are ineligible to get the benefits: 
(i) SMFs covered under any other statuary social security schemes such as National Pension Scheme (NPS), Employees’ State Insurance Corporation scheme, Employees’ Fund Organization Scheme etc

(ii) Farmers who have opted for Pradhan Mantri Shram Yogi Maan Dhan Yojana (PM-SYM) administered by the Ministry of Labour & Employment. 

(iii) Farmers who have opted for Pradhan Mantri Laghu Vyapari Maan-dhan Yojana (PM-LVM) administered by the Ministry of Labour & Employment. 

(iv) Further, the following categories of beneficiaries of higher economic status shall not be eligible for benefits under the scheme: 

(a) All Institutional Landholders; and 

(b) Former and present holders of constitutional posts 

(c) Former and present Ministers/ State Ministers and former/present Members of Lok Sabha/ Rajya Sabha/ State Legislative Assemblies/ State Legislative Councils, former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats. 

d) All serving or retired officers and employees of Central/ State Government Ministries/ Offices/Departments and its field units Central or State PSEs and Attached offices/ Autonomous Institutions under Government as well as regular employees of the Local Bodies (Excluding Multi-Tasking Staff / Class IV/Group D employees)

e) All Persons who paid Income Tax in last assessment year. 

(f) Professionals like Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with Professional bodies and carrying out the profession by undertaking practices

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