PM Kisan Mandhan Yojana: Farmers Can Get ₹3,000 Monthly Pension—Who Is Eligible and How the Scheme Works

To strengthen the financial security of farmers, the central government runs several welfare schemes aimed at income support, insurance, and old-age security. One such important initiative is the Pradhan Mantri Kisan Mandhan Yojana (PM-KMY), a pension scheme designed specifically for small and marginal farmers. Under this scheme, eligible farmers receive a fixed monthly pension of ₹3,000 after the age of 60, by contributing a small amount during their working years.

Here is a detailed explanation of who can benefit from the scheme, how much contribution is required, and how the pension system works.

What Is Pradhan Mantri Kisan Mandhan Yojana?

The PM Kisan Mandhan Yojana is a voluntary and contributory pension scheme launched by the Government of India to provide old-age income security to small and marginal farmers. The scheme is meant for farmers aged between 18 and 40 years, who have limited income sources and are vulnerable to financial instability in old age.

Once enrolled and after completing the required contribution period, beneficiaries become eligible for a minimum assured pension of ₹3,000 per month after attaining the age of 60 years.

The pension fund under this scheme is managed by the Life Insurance Corporation of India (LIC), ensuring structured fund management and long-term sustainability.

Who Is Eligible for PM Kisan Mandhan Yojana?

To avail the benefits of the scheme, farmers must meet the following eligibility criteria:

• Age should be between 18 and 40 years at the time of enrollment

• The farmer must be a small or marginal farmer

• Monthly income should be up to ₹15,000

• The farmer should own cultivable land up to 2 hectares

• The farmer’s name must be recorded in the state or UT land records as of August 1, 2019

• The scheme is open to farmers who are not covered under other major pension schemes

The scheme primarily targets farmers with limited landholding and income, ensuring support reaches those who need it the most.

Monthly Contribution: ₹55 to ₹200

Under PM-KMY, farmers need to make a monthly contribution ranging from ₹55 to ₹200, depending on their age at the time of joining the scheme.

• Younger farmers (around 18 years of age) contribute approximately ₹55 per month

• Older farmers (close to 40 years) contribute up to ₹200 per month

The contribution continues until the beneficiary reaches 60 years of age. An important feature of the scheme is that the central government makes an equal matching contribution to the pension fund, effectively doubling the savings of the farmer.

When Does the Pension Start?

Once the enrolled farmer turns 60, the pension payout begins automatically, provided all eligibility conditions are met. From that point onward, the beneficiary receives ₹3,000 every month for life, offering a steady income during old age.

This regular pension can help farmers manage basic living expenses, medical needs, and daily household costs without depending entirely on family members.

Registration and Implementation

The enrollment process for PM Kisan Mandhan Yojana is carried out through:

• Common Service Centres (CSCs)

• State government channels

Farmers need to submit basic details such as Aadhaar number, bank account information, landholding records, and age proof during registration. After enrollment, contributions are auto-debited from the registered bank account.

Why PM Kisan Mandhan Yojana Matters

Most small and marginal farmers work in the unorganized sector and lack access to formal pension systems. The PM-KMY addresses this gap by offering:

• Financial independence after retirement

• Predictable and assured monthly income

• Government-backed pension support

• Long-term social security for farming households

By encouraging small monthly savings during working years, the scheme helps farmers build a safety net for the future.

Final Takeaway

The Pradhan Mantri Kisan Mandhan Yojana is a significant step toward ensuring dignity and financial stability for farmers in their old age. With a modest monthly contribution of ₹55 to ₹200, eligible farmers can secure a ₹3,000 monthly pension for life after turning 60, with the government contributing equally to the fund.

For small and marginal farmers looking for long-term security, PM-KMY offers a simple, reliable, and government-supported pension solution. As with any financial scheme, farmers are advised to understand the eligibility conditions carefully and complete enrollment through official channels only.