Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)
#GS-2 #Governance & Social Justice #Welfare Schemes #GS-3 #Economy #Agriculture
Key takeaways
- The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) offers small and marginal farmers a minimum assured pension of ₹3,000 per month after reaching 60 years of age.
- Administered by the Ministry of Agriculture & Farmers Welfare and LIC, the scheme requires monthly contributions ranging between ₹55 and ₹200 with an equal contribution from the Central Government.
- Farmers with up to 2 hectares of cultivable land who enter between 18 and 40 years of age can enroll, while 24,96,252 farmers have joined as of February 2026.
- If a pensioner passes away, the spouse receives a family pension of 50% of the pension amount (₹1,500 per month).
Why in News
- The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) has completed seven years since its launch in 2019.
- The scheme focuses on securing the old-age financial needs of Small and Marginal Farmers (SMFs) through a voluntary savings model.
Key Facts About PM-KMY
- PM-KMY is a voluntary, contributory pension program designed to provide old-age financial stability to small and marginal farming households once their working years end.
- The Department of Agriculture & Farmers Welfare under the Ministry of Agriculture & Farmers Welfare runs this Central Sector Scheme in partnership with LIC.
- Enrolled farmers receive a fixed minimum pension of ₹3,000 per month after reaching the age of 60 years.
- If a pensioner dies after starting to receive benefits, the surviving spouse gets a family pension equal to 50% of the pension amount (₹1,500 per month).
- The scheme operates on a 1:1 matching contribution ratio, where the Central Government deposits an amount equal to the farmer's monthly share.
- Depending on their age at entry between 18 and 40 years, farmers contribute between ₹55 and ₹200 per month, which the government matches equally.
- The scheme is open to small and marginal farmers who own up to 2 hectares of cultivable land and join between the ages of 18 and 40 years.
- Individuals covered under NPS, ESIC, EPFO, PM-SYM, or PM-LVM cannot join, nor can institutional landholders, constitutional officeholders, taxpayers, or professionals like doctors, CAs, and lawyers.
- Government workers in Multi-Tasking Staff (MTS), Class IV, and Group D positions are exempted from these exclusions and can enroll in the scheme.
- Monthly contributions are deducted directly from bank accounts via auto-debit mandate, and farmers can optionally use their PM-KISAN installments to pay into this pension fund.
- As of February 2026, total enrolments reached 24,96,252 farmers, with Haryana recording the highest count followed by Bihar, and ₹540.66 crore spent on implementation.
- The initiative provides long-term social security for agriculture workers, protecting vulnerable smallholders from poverty during their later years.
Conclusion
- PM-KMY represents a shift from focusing solely on farm production toward providing lifelong social protection for rural families.
- By combining matching pension savings, auto-debit integration, and family coverage, the scheme helps small farmers retire with financial dignity.