PM-Kisan Maandhan Yojana (PM-KMY)

Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) is an old-age social security scheme brought by the Government of India in 2019 (formally launched on 12 September 2019) exclusively for Small and Marginal Farmers (SMFs) who cultivate up to 2 hectares (5 acres) of land. The scheme functions on a voluntary and 50:50 contributory pension model managed by the Life Insurance Corporation of India (LIC) as the Pension Fund Manager. Eligible farmers entering the scheme between the ages of 18 and 40 make an affordable monthly contribution ranging between ₹55 and ₹200 per month, depending precisely on their entry age. The Central Government matches 100% of the farmer’s contribution with an equal amount deposited directly into the Pension Fund. Upon attaining the age of 60 years, the subscriber is entitled to receive an assured monthly pension of ₹3,000 (₹36,000 annually) for life. In the unfortunate event of the subscriber’s death after age 60, the spouse receives 50% of the pension amount (₹1,500 per month) as family pension. If the subscriber dies before age 60, the spouse can either continue the scheme or exit by recovering the farmer’s accumulated contributions with interest. Subscribers can conveniently auto-debit their monthly subscription directly from their PM-KISAN bank accounts or savings accounts. Enrolment is facilitated across Common Service Centres (CSCs) and the official Maandhan portal (maandhan.in). PM-KMY is separate from the direct income support of PM-KISAN (₹6,000/year) and state-funded social welfare pensions.