PM Kisan Maan-Dhan Yojana (Pension for farmers)

The PM Kisan Maan-Dhan Yojana (Pension for farmers) is an essential central agriculture scheme launched by the Government of India in 2019. The scheme’s core objective is to provide a much-needed social security net for the nation’s small and marginal farmers in their old age. The problem it addresses is the widespread financial insecurity faced by agricultural workers who, due to the nature of farming and minimal savings, often lack a stable source of income after they can no longer work actively. This policy was recognized to ensure a life of dignity and reduce dependency for the elderly in the farming community.

This is a voluntary and contributory pension scheme, meaning eligible farmers must make a small monthly contribution (ranging from ₹55 to ₹200) to enroll. The Government of India makes an equal matching contribution to the farmer’s pension account. Farmers aged between 18 and 40 years with cultivable land up to 2 hectares are covered under the eligibility criteria. Upon reaching 60, the subscribers receive fixed benefits of a minimum assured monthly pension of ₹3,000. Farmers can initiate their application online or through Common Service Centers in their State or across India.

Overview of the Scheme

The PM Kisan Maan-Dhan Yojana (PM-KMY) is a Central Sector Scheme launched by the Government of India in September 2019 to provide social security and old-age protection to small and marginal farmers (SMFs) across the country.

Key Operational Details

• Launching/Nodal Ministry: The scheme is administered by the Department of Agriculture and Farmers Welfare (DA&FW) under the Ministry of Agriculture & Farmers Welfare, Government of India.
• Target Group (Coverage): It is specifically designed for Small and Marginal Farmers (SMFs) who own cultivable land up to 2 hectares and are between 18 and 40 years of age. It is a voluntary and contributory scheme.
• Implementing Agency: The primary agency responsible for managing the pension fund and ensuring pay-outs is the Life Insurance Corporation of India (LIC). Enrolment is facilitated through Common Service Centres (CSCs).

Funding Pattern and Benefits

• Funding Pattern: This is a 100% Central Sector Scheme where the Central Government matches the farmer’s monthly contribution equally (a 1:1 matching funding pattern).
  • Example: If an 18-year-old farmer contributes ₹55 per month, the Central Government also contributes an equal amount of ₹55 per month to the pension fund.
• Sectors/Components Covered: The scheme’s coverage is focused solely on providing old-age pension/social security and does not cover inputs, machinery, value addition, or credit directly.
• Current Status: The scheme is ongoing. It provides an assured monthly pension of ₹3,000 to the enrolled farmers once they attain the age of 60 years. Beneficiaries of the PM-KISAN scheme can optionally allow their PM-KMY contributions to be auto-debited from their PM-KISAN benefits.

Objectives 

The primary purpose of the PM Kisan Maan-Dhan Yojana (PM-KMY) agriculture scheme is to provide financial security for small and marginal farmers during their old age. The scheme’s core objectives and goals focus on creating a stable support system for the farming community.

• Provide an assured monthly income of ₹3,000 to the enrolled farmers after they reach 60 years of age.
• Offer a structured, voluntary, and contributory pension plan to all small and marginal farmers (SMFs) between 18 and 40 years of age.
• Establish a social security net for farmers, mitigating the risk of poverty and financial distress in their non-earning years.
• Encourage farmers to make regular, small contributions, which are equally matched by the Central Government, fostering a culture of savings.
• Ensure a life of dignity and self-reliance for the elderly farming population.
• Protect the farmer’s family by allowing the spouse to receive 50% of the pension as a family pension upon the death of the primary beneficiary.

Key Features / Benefits 

The PM Kisan Maan-Dhan Yojana (PM-KMY) offers several financial and social benefits designed to secure the later years of small and marginal farmers. The scheme’s features are structured to make contribution simple and the resultant pension reliable, ensuring genuine assistance to the target group.

• Assured Minimum Monthly Pension: This is the core benefit of the scheme. Upon reaching the age of 60, every enrolled farmer receives a fixed minimum pension of ₹3,000 per month for the rest of their life, regardless of their total contribution amount. (Example: A farmer who enrolls at age 40 and contributes for 20 years will receive the same ₹3,000 monthly pension as one who enrolls at age 18 and contributes for 42 years.)
• Voluntary and Contributory Scheme: Farmers must voluntarily opt-in for the scheme and make a small, affordable monthly contribution, which varies based on the age of entry. The earlier a farmer joins, the lower their monthly contribution is, making the scheme accessible to those with limited income.
• Equal Contribution from the Government: The Central Government provides a matching contribution equal to the amount paid by the farmer. This 1:1 matching grant ensures the pension corpus grows quickly, securing the full pension amount. (Example: If the farmer contributes ₹100 per month, the Government also contributes ₹100 per month, making the total monthly deposit ₹200).
• Provision for Family Pension: If the enrolled farmer dies after the commencement of the pension but before their spouse, the spouse is entitled to receive 50% of the pension amount. This ensures continued financial support for the surviving partner.
• Auto-Debit Facility with PM-KISAN: Farmers who are also beneficiaries of the PM-KISAN scheme can opt to have their monthly contribution automatically debited from the benefits they receive under PM-KISAN. This convenient feature simplifies the payment process and prevents accidental non-payment.
• Easy Exit and Withdrawal Option: If a farmer decides to exit the scheme prematurely, the contributions made by them, along with accumulated interest (at the savings bank rate or the interest earned by the fund, whichever is higher), will be refunded. The government’s matching share is forfeited in case of voluntary exit.

Eligibility Criteria 

To ensure the benefits of the PM Kisan Maan-Dhan Yojana (PM-KMY) reach the most vulnerable in the farming community, the eligibility is strictly defined based on landholding, age, and existing social security status. The primary criteria are:

Who Can Apply (Eligible Farmers)

• Farmer Type: Must be classified as a Small and Marginal Farmer (SMF), meaning a farmer who owns cultivable land up to 2 hectares (approximately 5 acres) as per the State/UT land records.
• Age Limit: The farmer’s entry age must be between 18 and 40 years at the time of enrollment, ensuring they can contribute to the fund for a sufficient duration.
• Residency: Must be a citizen of India residing in any State or Union Territory.

Mandatory Documents

• Aadhaar Card: This is required for identity verification and is essential for the online registration process.
• Savings Bank Account: A copy of the bank passbook or account details (like IFSC code) is needed for monthly contributions and receiving the pension.
• Landholding Papers: Documents verifying the ownership and the cultivable land size (up to 2 hectares) are necessary to meet the SMF definition.

Not Eligible (Exclusion Criteria)

The scheme’s focus on the economically weaker section means certain groups are legally excluded from availing the benefits:

• Statutory Social Security Schemes: Farmers already covered under other statutory social security schemes like the National Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC), or Employees’ Fund Organization (EPFO).
• Higher Economic Status: Individuals of higher economic status, including income tax payees, former or present holders of constitutional posts, and all serving or retired government employees (excluding multi-tasking staff/Group D employees).
• Professionals: Individuals registered with professional bodies, such as Doctors, Engineers, Lawyers, and Chartered Accountants.

Application Process

Eligible small and marginal farmers can easily complete the application form for the PM Kisan Maan-Dhan Yojana (PM-KMY) through both online self-registration and assisted offline enrollment. The registration process is free of cost for the farmer, though a nominal service charge may be paid to the Village Level Entrepreneur (VLE) by the government.

Step-by-Step Enrollment Flow

1. Choose Registration Route: A farmer can choose to apply online through the official portal at www.maandhan.in (Self-Enrollment) or opt for the offline route by visiting their nearest Common Service Centre (CSC).
2. Document Submission: The farmer must provide their Aadhaar Card, bank account details (Savings Bank Account number/PM-KISAN account), and a mobile number. Landholding papers are also required for verification of the SMF status.
3. Online Form Filling (CSC Route): At the CSC, the Village Level Entrepreneur (VLE) enters the farmer’s details, including the Aadhaar number for authentication, personal particulars, nominee details, and bank information.
4. Contribution Calculation & Payment: The system automatically calculates the farmer’s monthly contribution (ranging from ₹55 to ₹200) based on their age. The farmer pays the first contribution amount in cash to the VLE at the CSC.
5. Mandate Generation: An Enrolment-cum-Auto Debit mandate form is printed. The farmer signs this form, giving consent for the future monthly contributions to be automatically debited from their bank account.
6. Kisan Card Issuance: Upon successful completion of the process, a unique Kisan Pension Account Number (KPAN) is generated, and a Kisan Card is printed for the farmer, which serves as the acknowledgement.

📞 Official Helpline and Tips

• Helpline: For scheme-related queries, farmers can call the dedicated PM-KMY Helpline at 1800 212 2729 (Toll-Free).
• Tips to Avoid Mistakes:
  • Ensure your name and date of birth exactly match the details on your Aadhaar Card and bank passbook to prevent authentication failure.
  • Verify the IFSC code and account number multiple times on the application form before submission to ensure smooth auto-debit of contributions.

Challenges or Limitations 

While the PM Kisan Maan-Dhan Yojana (PM-KMY) offers great security, potential limitations and challenges exist in enrollment and implementation. Being aware of these common issues helps farmers navigate the scheme effectively.

• Aadhaar/Bank Data Mismatch  Ensure the name and date of birth are identical across your Aadhaar, bank records, and the PM-KISAN database to prevent failure during verification and auto-debit setup.
• Low Awareness  Seek information from your local Common Service Centre (CSC) or Krishi Vigyan Kendra (KVK) to fully understand the scheme’s rules and long-term commitment.
• Voluntary Exit Loss  Understand that if you exit the scheme prematurely, the Central Government’s matching contribution is forfeited. Only your contribution plus simple interest is returned.
• Contribution Burden  While small, the continuous monthly contribution over many years requires financial discipline. Utilize the auto-debit facility via PM-KISAN to simplify payments and avoid missing installments.
• Limited Fund Corpus  The assured pension of ₹3,000 is fixed. While essential, it may not keep pace with future inflation. Consider the scheme as a base social security net rather than a comprehensive retirement fund.

Government Support & Future Outlook 

The PM Kisan Maan-Dhan Yojana (PM-KMY) demonstrates significant convergence with other central schemes, most notably the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN).

• Linkage with PM-KISAN: The key linkage allows PM-KISAN beneficiaries to optionally allow their PM-KMY contributions to be automatically debited from their PM-KISAN installments. This simplifies the contribution process and ensures timely payment.
• Practical Example of Convergence: A farmer receives ₹6,000 annually under PM-KISAN. They can choose to auto-debit their PM-KMY contribution (say, ₹100/month or ₹1,200/year) from this amount. This ensures the farmer secures their pension without the need for monthly bank visits.
• Future Plans/Update: The future plans focus on maximizing enrollment across all eligible small and marginal farmers, with the scheme continuing as an ongoing measure to strengthen social security for the farm sector.

Conclusion 

The PM Kisan Maan-Dhan Yojana (PM-KMY) is a vital, voluntary, and contributory pension scheme designed to provide social security to small and marginal farmers (SMFs) in their old age. The scheme offers a guaranteed minimum pension of ₹3,000 per month upon reaching 60, with the Central Government matching every farmer contribution made between the entry ages of 18 and 40. This scheme is particularly crucial for SMFs who lack sufficient savings for retirement, offering them dignity and financial stability. To begin securing these lifelong benefits, eligible readers should apply by visiting their nearest Common Service Centre (CSC) or the official portal, pmkmy.gov.in, to check eligibility and submit documents. Always verify the latest guidelines on the official portal or helpline.