PM-KMY
Pradhan Mantri Kisan Maan Dhan Yojana
PM Kisan Maan Dhan Yojana provides pension security to India's 12 crore small and marginal farmers — those holding up to 2 hectares of land — who have no formal pension. Launched on 12 September 2019, it provides ₹3,000/month from age 60. The farmer contributes ₹55–₹200/month (depending on age at entry) and the Central Government matches this contribution rupee-for-rupee. LIC manages the pension corpus and pays pension at 60. On farmer's death, the spouse receives 50% of pension (₹1,500/month). The scheme has enrolled over 23.38 lakh farmers. The monthly contributions are among the lowest of any pension scheme globally — at age 18, a farmer needs to contribute just ₹55/month for a ₹3,000/month lifelong pension.
Key Objectives
- Provide old-age income security to small and marginal farmers at age 60.
- Ensure ₹3,000/month pension — sufficient for basic living expenses for retired farmers.
- Government co-contribution makes pension accessible for smallest farmers.
Benefits
Eligibility
- Small and marginal farmers aged 18–40 years
- Agricultural land holding: up to 2 hectares
- Not covered by NPS, ESIC, EPFO, or any other social security scheme
- Not an income tax payer
- Land holding up to 2 hectares as per state land records
- Must have Aadhaar-linked bank account
- PM-KISAN beneficiaries can use PM-KISAN instalment to auto-pay PM-KMY contribution
How to Apply
Visit nearest Common Service Centre (CSC) — find at locator.csccloud.in
Carry Aadhaar and bank passbook
CSC operator registers you on maandhan.in
Select entry age and confirm monthly contribution amount
First contribution paid — auto-debit set up from bank account
PM-KMY card issued
Monthly contribution auto-debited; government matches it every month
Pension starts from age 60 — credited to bank account by LIC
Required Documents
Frequently Asked Questions
What is the monthly contribution for PM-KMY at age 30?
At age 30, the monthly contribution is ₹110/month. The government also contributes ₹110/month. Total monthly corpus building: ₹220/month towards ₹3,000/month pension from age 60.
Can PM-KISAN money be used to pay PM-KMY contributions?
Yes — farmers can authorise deduction of PM-KMY monthly contribution directly from their PM-KISAN instalment. This links both schemes and ensures contribution continuity even if the farmer forgets to maintain bank balance.
What happens if a PM-KMY enrolled farmer dies before age 60?
If the farmer dies before 60, the spouse can continue contributing to receive the full ₹3,000/month pension from age 60. Alternatively, the spouse can exit and receive the corpus (contributions + interest). If neither option is exercised, the accumulated corpus goes to the nominee.