Farmers Will Get Pension of Rs 3000 After 60 Years of Age Kisan Mandhan Yojana

The central and state governments are implementing various schemes for the farmers across the country. Through these schemes, the government aims to make farmers economically strong and self-reliant. Farmers are benefiting from these schemes, be it the farmer's plan or other initiatives; farmers are easily availing their advantages. One such scheme is the Farmer Pension Scheme. The government, through the PM Kisan Maandhan Yojana, has initiated providing pensions to farmers after the age of 60. This scheme is specifically launched to secure the future of farmers. Under this scheme, farmers receive a pension of up to ₹3000 every month after the age of 60. This not only strengthens farmers economically but also benefits them in their agricultural activities.

Objective of the Scheme:

This scheme is highly beneficial for farmers. Farmers aged between 18 and 40 can invest by applying for this scheme. In case of a farmer's demise due to any reason, the spouse is entitled to receive 50% of the pension under this scheme. Family pension is only provided to the husband or wife. It is noteworthy that children are not eligible for its benefits.

How much investment is required?

Under this scheme, the investment amount can range between ₹55 and ₹200. If a farmer applies for the PM Kisan Maandhan Yojana at the age of 18, they will have to pay a monthly premium of ₹55. When the farmer reaches the age of 60, they will receive a monthly pension of ₹3,000, or an annual pension of ₹36,000 thereafter.

Eligibility Criteria: The benefits of this scheme are not available to all farmers. This scheme is applicable to farmers owning land up to 2 hectares or less. Small and marginal farmers can avail themselves of the benefits of this scheme. The age of the applying farmer should be between 18 and 40 years.