About

• The Pradhan Mantri Kisan Maandhan Yojana (PMKMY), introduced by the central government in 2019, aims to provide old age protection and social security for Small and Marginal Farmers (SMF). 
• Under this scheme, farmers aged 60 and above are guaranteed a minimum pension of Rs 3000 per month. 
• This voluntary and contributory pension scheme is open to individuals aged 18 to 40.

Eligibility:

• All Small and Marginal Farmers having cultivable land holding up to 2 hectares falling in the age group of 18 to 40 years are eligible to get benefit under the Scheme.
• Small and Marginal Farmers covered under any other statutory social security schemes and beneficiaries of higher economic status are not eligible for benefits under the scheme.

Benefits:

• The applicants between the age group of 18 to 40 years will have to make monthly contributions ranging between Rs 55 to Rs 200 per month till they attain the age of 60.
• Farmers would receive a minimum assured pension of Rs 3000/- per month after attaining the age of 60 years and if the farmer dies, the spouse of the farmer shall be entitled to receive 50% of the pension as family pension. 

Why in News?

• 23.38 lakh farmers have been enrolled under the farmers’ pension scheme PMKMY so far.