Securing Farmers’ Future With Dignity

Key Highlights:

• The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY), launched in 2019, has completed seven years of implementation.
• It is a Central Sector Scheme providing a minimum assured pension of ₹3,000 per month to eligible Small and Marginal Farmers (SMFs) from the age of 60.
• As of February 2026, over 24.96 lakh farmers have enrolled under the scheme nationwide.
• Haryana leads in enrolments with approximately 5.75 lakh, followed by Bihar with over 3.46 lakh.
• The scheme is administered by the Department of Agriculture & Farmers Welfare and implemented in partnership with the Life Insurance Corporation of India (LIC).

Detailed Insights:

• PM-KMY aims to provide social security and financial dignity to farmers in their old age, particularly those with limited savings.
• If a subscriber dies after receiving pension, the spouse is entitled to a family pension of 50% (₹1,500 per month).
• Eligible farmers must have cultivable landholdings up to two hectares and be between 18 and 40 years of age.
• Farmers already covered under other social security schemes like NPS, ESIC, or PM-SYM are excluded.
• Individuals of higher economic status, such as constitutional post holders, income tax payers, and registered professionals, are also excluded.
• The scheme operates on a shared contribution model, with farmers and the Central Government contributing equally to the pension fund.
• Farmers' monthly contributions range from ₹55 to ₹200, depending on their entry age.
• Enrolment is a simple, paperless digital process conducted through Common Service Centres (CSCs) using Aadhaar and bank details.
• Farmers can opt to use their PM-KISAN benefits for voluntary contributions towards PM-KMY.

Key Concepts Involved:

• Pradhan Mantri Kisan Maandhan Yojana (PM-KMY): A government scheme providing old-age social security and a minimum assured pension to eligible small and marginal farmers.
• Small and Marginal Farmers (SMFs): Farmers with cultivable landholdings up to two hectares, who are the primary beneficiaries of PM-KMY.
• Central Sector Scheme: A scheme fully funded by the Central Government and implemented by the Central Government machinery.
• Life Insurance Corporation of India (LIC): A public sector insurance group that manages the pension fund and payouts for PM-KMY.