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Last Updated: 16 Oct 2025

Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY)

The PM-KMY is a Central Sector scheme providing old-age social security to small and marginal farmers with up to 2 hectares of land through a pension managed by LIC.

Quick facts

  • Type: Central Sector Scheme
  • Purpose: Old age protection and social security of Small and Marginal Farmers (SMF)
  • Eligibility: Land upto 2 ha and age between 18 to 40 years
  • Fund manager: Life Insurance Corporation (LIC)

 

Objectives

  • To provide social security to Small and Marginal Farmers in their old age when they have no means of livelihood and minimal or no savings to take care of their expenses.

 

Salient features

 

  • Benefit
    • Assured pension of Rs. 3000/- month on attaining the age of 60 years.
  • Voluntary and Contributory
    • Monthly contribution by farmer ranges between Rs.55 to 200 to the Pension Fund, depending on the age of entry into the Scheme. 
    • Matching contribution is made by the Central government.
  • Family pension
    • If the subscriber dies, the spouse shall be entitled to receive only 50% of the pension received by subscriber.
  • Provisions for disability
    • If the subscriber becomes disabled before attaining the age of 60 years:
      • Spouse shall be entitled to continue with the scheme subsequently.
      • Spouse may exit the Scheme  with the subscriber's share of contribution with savings bank rate of interest or  accumulated interest as actually earned by the Pension Fund, whichever is higher 
  • Exit provisions
    • Premature exit
      • Exit within ten years from the date of joining the Scheme: Subscribers will get his/her the share of contribution with savings bank rate of interest 
    • Exit after 10 years from the date of joining but before the age of 60: Subscribers will get his/her the share of contribution with savings bank rate of interest or accumulated interest as actually earned by the Pension Fund, whichever is higher
  • Exclusion
    • All Institutional Land holders
    • Former and present holders of constitutional posts
    • Former and present legislatures/ministers at three tiers of governance
    • All Persons who paid Income Tax in last assessment year
    • Professionals like Doctors, Engineers, etc.
    • All serving or retired officers and government or PSE excluding Multi-Tasking Staff /Class IV/Group D employees
    • SMF covered under any other statuary social security schemes such as NPS
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