Government of India has introduced a voluntary and contributory pension scheme for landholding Small & Marginal Farmers to provide them social security and a healthy and happy life after they reach their old age.
Under this scheme, a monthly pension of Rs.3,000/- will be provided to all eligible Small and Marginal Farmers. Farmers between 18 and 40 years of age are eligible to join the scheme upon payment of monthly contribution between Rs.55 to Rs.200.
Free enrollment for the Scheme has started at all Common Service Centres across the country.
- Enrollment in PM-KMY scheme is a simple and easy process
- It is a voluntary and contributory pension scheme.
- Each subscriber will be entitled to receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years.
- It is a scheme on a 50:50 basis where prescribed age-specific contribution will be made by the beneficiary and the matching contribution by the Central Government.
Entry age specific monthly contribution
|Entry Age (Yrs)
|Member’s monthly contribution (Rs)
|Central Govt’s monthly contribution (Rs)
|Total monthly contribution (Rs)
(Total = C + D)