Pradhan Mantri Kisan Samman Pension Yojana (PM-Kisan Yojana) is a scheme formulated by the government for the small and marginal farmers. The scheme is developed to provide financial assistance to the eligible farmers of the country. Under PM-Kisan pension Yojana, the farmers can get up to Rs 6,000 per year as minimum income support.
The 75,000-crore Pradhan Mantri Kisan Samman Nidhi Yojana aims to provide financial support to the 125 million farmers in India irrespective of the size of their landholding.
PM-Kisan Pension Yojana was launched by the Prime Minister of India, Narendra Modi in December 2018.
Pradhan Mantri Kisan Samman Pension Yojana is formulated to provide income support of Rs 6000 per annum to the eligible farmer families across the country. The amount will be provided in three equal instalments of Rs 2,000 each every four months.
The amount of Rs 2,000 will directly be transferred to the bank accounts of the beneficiaries. PM-Kisan Yojana defines family as husband, wife and minor children.
PM Kisan Pension Scheme Eligibility
- Landholding farmers’ families with cultivable landholding are eligible for the scheme
- Farmers from both the urban and rural areas are eligible for PM-Pension Kisan Yojana
- Small and marginal farmers families can get the benefits of PM-Kisan pension Yojana
PM Kisan Samman Nidhi Pension Registration
- Farmers who want to apply for PM-Kisan Yojana benefits have to approach the local revenue officer (patwari) or a nodal officer nominated by the state government.
- The government has also authorised the Common Service Centres (CSCs) for registering the farmers under the scheme
- The farmers can also register on the official website of PM Kisan Samman Nidhi Yojana. Here is the link to the website: https://www.pmkisan.gov.in/
- Click on the New Farmer Registration option under the Farmers Corner tab on the menu bar.
- You will be redirected to the New Farmer Registration Form page. Here is the direct link to the page: https://www.pmkisan.gov.in/RegistrationForm.aspx
- Farmers can also edit the name in PM-Kisan database and know the status of their payment this portal.
Documents required for PM-Kisan PensionYojana
Following documents are required to register for PM-Kisan Pension Yojana:
- Aadhaar card
- Citizenship certificate
- Landholding papers
- Bank account
PM-Kisan Pension Yojana Features
- The farmers need to contribute Rs.55 to Rs.200 (depending on their age), in the Pension Fund till they attain the age of 60 years.
- The beneficiaries may choose to pay their contributions on quarterly, 4-monthly or half-yearly basis.
- Farmer’s spouse can also contribute to the funds and get a separate pension of Rs.3000/-.
- Pension Fund Manager, the Life Insurance Corporation of India (LIC) would be responsible for pension payout.
- If the beneficiary dies before the retirement date, the spouse of the beneficiary can pay the remaining contribution and continue the scheme. However, the spouse may also opt to discontinue the scheme. In that case, the spouse will get the total contribution made by the farmer along with interest. If the farmer is unmarried, divorced or widower then the total contribution along with interest will be paid to the nominee.
- In the case of the farmer’s death after the retirement date, the spouse of the farmer will receive 50% of the pension as Family Pension.
- The farmer may also choose to exit the scheme voluntarily after a minimum period of 5 years of regular contributions. In that case, their entire contribution will be returned by the Life Insurance Corporation of India with an interest equivalent to prevailing saving bank rates.
- Defaulters of regular contributions can pay the outstanding dues along with the prescribed interest and regularize the contributions.
- No late fee would be charged until 1 month from first unpaid contribution.
Monthly contribution on the basis of entry age
|Entry Age (Yrs) (A)||Superannuation Age (B)||Member’s monthly contribution (Rs) (C)||Central Govt’s monthly contribution (Rs)(D)||Total monthly contribution (Rs) (Total = C + D)|
This fiscal year, the central government has proposed a lower allocation of Rs 54,370.15 as against the budget projection of Rs 75,000 crore.
Under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme the government has disbursed over Rs 43,000 crore to more than 8 crore farmers so far.