PM-KMY: Old-Age Security for Farmers

The Pradhan Mantri Kisan Maan-Dhan Yojana is a Voluntary & Contributory pension scheme for Small and Marginal Farmers (SMFs).

1. Eligibility & Pension

Eligibility & Pension

Cue Words	Notes
Analyze key facts and concepts related to Eligibility & Pension.	Age Group: 18 to 40 years. Pension: Fixed monthly pension of ₹3,000 after attaining 60 years. Contribution: Monthly premium (₹55 to ₹200) matched 1:1 by the Central Govt. Nodal Ministry: Ministry of Agriculture & Farmers Welfare (originally administered with LIC as fund manager); launched 2019. Eligibility Cap: Small and Marginal Farmers with combined landholding up to 2 hectares (cultivable land, as per land records). Exclusions: Farmers already covered under other statutory social security schemes (PM-SYM, NPS, ESIC, EPFO) or who are income-tax payees are not eligible.

Cue Words

Notes

Analyze key facts and concepts related to Eligibility & Pension.

Age Group: 18 to 40 years.
Pension: Fixed monthly pension of ₹3,000 after attaining 60 years.
Contribution: Monthly premium (₹55 to ₹200) matched 1:1 by the Central Govt.
Nodal Ministry: Ministry of Agriculture & Farmers Welfare (originally administered with LIC as fund manager); launched 2019.
Eligibility Cap: Small and Marginal Farmers with combined landholding up to 2 hectares (cultivable land, as per land records).
Exclusions: Farmers already covered under other statutory social security schemes (PM-SYM, NPS, ESIC, EPFO) or who are income-tax payees are not eligible.

Key Features

Cue Words	Notes
Analyze key facts and concepts related to Key Features.	Auto-Debit: Farmers can choose to pay their premium directly from their PM-KISAN installments (seamless integration). Family Pension: In case of the farmer's death after 60, the spouse is entitled to 50% of the pension.

Strategic Importance

Cue Words	Notes
Analyze key facts and concepts related to Strategic Importance.	Longevity Risk: Addressing the lack of social security for ~12 Crore small farmers who are outside the formal pension net. Dignified Retirement: Protecting the farmer from economic dependency in old age. Contributory Justice: A partnership between the Farmer and the State. Integration of Benefits: PM-KISAN fueling PM-KMY premiums. Social Safety Net: Preventing rural poverty in the "Silver years."

Cue Words

Notes

Analyze key facts and concepts related to Strategic Importance.

Longevity Risk: Addressing the lack of social security for ~12 Crore small farmers who are outside the formal pension net.
Dignified Retirement: Protecting the farmer from economic dependency in old age.
Contributory Justice: A partnership between the Farmer and the State.
Integration of Benefits: PM-KISAN fueling PM-KMY premiums.
Social Safety Net: Preventing rural poverty in the "Silver years."

Conclusion

Cue Words	Notes
Analyze key facts and concepts related to Conclusion.	PM-KMY is the "Silver Shield of the Soil." Success lies in moving from "Hand-to-mouth existence" to "Fixed Retirement Security" for the small farmer.