Central Government PM Kisan Maan-dhan Yojana – No Premium for Farmers Pension

PM Kisan Maan-dhan Yojana – No Premium for Farmers Pension

PM Modi is going to launch Pradhan Mantri Kisan Maan-dhan Yojana on 12 September 2019 from Jharkhand. As the registrations have already been started, the half premium amount is paid by the farmers and half is borne by the central government. However, there is one provision that farmers will not have to pay half premium amount. Life Insurance Corporation (LIC) is organizing this pension fund.

Farmers could be benefited as their share (contribution) of premium could be borne by their respective state government. This option is present in the operational guidelines of PM Kisan Pension Scheme. In this farmers pension scheme, farmers whose age is b/w 18 to 40 years will have to deposit premium.

All the farmers will have to deposit premium of Rs. 55 to Rs. 200 for a time duration 20 to 42 years. Some farmers are keeping themselves out of this scheme as waiting time is very high & Rs. 3,000 would not be sufficient at that time when farmers attain 60 years of age.

PM Kisan Maan-Dhan Yojana Zero Premium

If the farmers make pressure on their respective state govt’s then govt. can easily deposit premium on behalf of farmers. For this PM Kisan Maan-dhan Yojana, the half premium amount which is paid by the government for 3 years amount to Rs. 10,774.50 crore.

Registration for PM-KISAN Maan-dhan Yojana at CSCs

All the farmers can make registration for PM Kisan Maan-dhan Yojana at their nearest Common Service Centers (CSCs). To make PM Farmers Pension Scheme registration, there is no fees. In case the farmer is already getting benefits of PM-KISAN Samman Nidhi Yojana, then no document needs to be produced by the farmer. However, Aadhaar card is still a mandatory document.

In case a farmer wants to leave the scheme, then their deposited amount would not be forfeited rather it would earn an interest equal to savings bank account.

Who Are Not Eligible for PM Farmers Pension Scheme

The farmers falling under any one of the category are not entitled to get benefits of PM Kisan Pension Yojana:-

  • Beneficiary farmers of National Pension Scheme, Employee State Insurance Corporation (ESIC), Employee Provident Fund (EPFO) or any other social security scheme are not eligible.
  • Farmers who avail the option of PM-Shram Yogi Maan-dhan Yojana (PMSYM) & PM Laghu Vyapari Mandhan Yojana (PMLVM) run by Labour & Employment Dept. are also not eligible.
  • Farmers whose economic conditions are good like institutional land holders are not eligible.
  • All the former & current central / state ministers, lok sabha / rajya sabha members, state legislative assembly members, municipal officers, mayors & head of district panchayats are not eligible.
  • All the working personnels in various department of central / state govt. offices, retired officers or permanent employees are not eligible. However, multi tasking staff and group D workers can take benefits of Kisan pension scheme.
  • Income tax payees, doctors, engineers, lawyers, chartered accountants & architects who are indulged in an business are also not eligible.