Pradhan Mantri Kisan Maandhan Yojana

Pradhan Mantri Kisan Maandhan Yojana is a government scheme meant for old age protection and social security of Small and Marginal Farmers

Eligibility

For Small and Marginal Farmers
Entry Age between 18 to 40 years
Cultivable land up to 2 hectares as per land records of the concerned State/UT .

Features

Assured pension of Rs. 3000/- month
Voluntary and Contributory Pension Scheme
Matching Contribution by the Government of India.

Benefits to the family on death of an eligible subscriber

During the receipt of pension, if an eligible subscriber dies, his spouse shall be only entitled to receive fifty per cent of the pension received by such eligible subscriber, as family pension and such family pension shall be applicable only to the spouse.

Benefits on disablement

If an eligible subscriber has given regular contributions and become permanently disabled due to any cause before attaining his age of 60 years, and is unable to continue to contribute under this Scheme, his spouse shall be entitled to continue with the Scheme subsequently by payment of regular contribution as applicable or exit the Scheme by receiving the share of contribution deposited by such subscriber, with interest as actually earned thereon by the Pension Fund or the interest at the savings bank interest rate thereon, whichever is higher.

Benefits on Leaving the Pension Scheme

In case an eligible subscriber exits this Scheme within a period of less than ten years from the date of joining the Scheme by him, then the share of contribution by him only will be returned to him with savings bank rate of interest payable thereon.
If an eligible subscriber exits after completion of a period of ten years or more from the date of joining the Scheme by him but before his age of sixty years, then his share of contribution only shall be returned to him along with accumulated interest thereon as actually earned by the Pension Fund or the interest at the savings bank interest rate thereon, whichever is higher.
If an eligible subscriber has given regular contributions and died due to any cause, his spouse shall be entitled to continue with the Scheme subsequently by payment of regular contribution as applicable or exit by receiving the share of contribution paid by such subscriber along with accumulated interest, as actually earned thereon by the Pension Fund or at the savings bank interest rate thereon, whichever is higher
After death of subscriber and his or her spouse, the corpus shall be credited back to the fund.