Source: PIB
Context
On 12 September 2026, the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) completed seven years ā a voluntary contributory pension scheme for the old-age social security of Small and Marginal Farmers (SMFs).
The Scheme
- Launched in 2019 by the Ministry of Agriculture and Farmers Welfare
- Implemented with the Life Insurance Corporation of India (LIC) as the pension fund manager
- A voluntary, contributory old-age pension scheme
- Offers eligible landholding SMFs a steady monthly pension from the age of 60
Eligibility
- Small and marginal farmers with cultivable landholding up to 2 hectares
- Aged 18 to 40 years
- Name appearing in the land records of the respective State or UT as on 1 August 2019
Important Facts for Exams
- PM-KMY launched 2019; completed seven years on 12 September 2026
- Implemented by the Ministry of Agriculture and Farmers Welfare with LIC
- Eligibility: landholding up to 2 hectares, age 18ā40, land records as on 1 August 2019
- Contribution ā¹55āā¹200 per month, age-based
- Assured pension of ā¹3,000 per month on attaining 60 years
- The Central Government makes an equal matching contribution to the pension fund
- On the pensioner’s death, the spouse receives 50 per cent as family pension
- Farmers may opt to have contributions deducted from their PM-KISAN benefits
