Facts about PM Kisan Maan Dhan Yojana | Fusion - WeRIndia

Facts about PM Kisan Maan Dhan Yojana

Facts about PM Kisan Mandhan Yojana

The central government approved a new pension scheme for farmers in May.

The scheme Pradhan Mantri Kisan Maan Dhan Yojana will provide a minimum fixed pension of ₹3,000 per month to all small and marginal farmers after they attain the age of 60 years.

PM Modi launched this pension scheme on 12 September in Ranchi.

Here are some important facts about PM Kisan Maan Dhan Yojana:

  • PM Kisan Maan Dhan Yojana is a voluntary and contributory pension scheme for small and marginal farmers in the country.
  • Farmers in the age group of 18 to 40 years can join the scheme to get pension after attaining 60 years.
  • Those who want to join the scheme will have to contribute ₹55 to ₹200 per month based on their age of entry. The Central Government will also make an equal contribution to the Pension Fund.
  • Eligible farmers can enroll in the scheme without paying any money.
  • The minimum fixed pension assured to all beneficiaries of the scheme is ₹3,000.
  • Around 5 crore small and marginal farmers would benefit from the scheme in the first three years.
  • The central government would spend ₹10774.50 crore on its contribution.
  • The pension fund will be managed by LIC.
  • If the beneficiary dies while receiving the pension, the spouse shall be entitled to receive 50 per cent of the pension received by the beneficiary as a family pension.
  • However, he/she should not already be the beneficiary of the scheme.
  • The spouse shall have the option of continuing the pension scheme if the subscriber dies during the period of contribution.
  • The farmers can pay their contributions from the benefits drawn from the PM-KISAN scheme directly.
  • An online grievance addressing system is there to help the farmers.

Image by Farida Ridhwan from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/photos/farmers-brothers-boys-asian-farmer-4754786/

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