Under the scheme, the subscriber would receive the following benefits:

i. Minimum Assured Pension: Each subscriber under the Pradhan Mantri Kisan Maandhan Yojana shall receive minimum assured pension of Rs. 3,000/- per month after attaining the age of 60 years.
ii. Family Pension:During the receipt of pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension provided he/she is not already a beneficiary of the scheme. Family pension is applicable only to spouse.
iii. If a beneficiary has given regular contribution and died of any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.

All Small and Marginal Farmers having cultivable landholding upto 2 hectares falling in the age group of 18 to 40 years, whose names appear in the land records of States/UTs as on 01.08.2019 are eligible to get benefit under the Scheme. However, following individuals are ineligible to get the benefits:

i. SMFs covered under any other statuary social security schemes such as National Pension Scheme (NPS), Employees’ State Insurance Corporation scheme, Employees’ Fund Organization Scheme etc.
ii.Farmers who have opted for Pradhan Mantri Shram Yogi Maandhan Yojana administered by the Ministry of Labour& Employment.
iii. Farmers who have opted for National Pension Scheme for Traders and Self Employed Persons Yojana administered by the Ministry of Labour& Employment.
iv. Beneficiaries belonging to higher economic status shall not be eligible for benefits under the scheme

No. Serving or retired officer and employee of Central/State Government Ministries/Departments/Offices and its field units, Central and State PSEs and Attached Offices/Autonomous Institutions under the Government as well as regular employees of the Local Bodies are not eligible to get the benefit under the scheme. However, serving or retired Multi Tasking Staff/ Class IV/Group D employee is eligible to get the benefit under the scheme, subject to fulfillment of other eligibility criteria.

No. Any individual farmer owning more that 2 hectare of cultivable land will not be eligible to get benefit under the scheme.

In case of incorrect declaration, the beneficiary shall be liable to get back his contributions without any interest thereon. The Central Government’s matching contribution will be stopped.

No. Land holding is the criteria to be eligible to get the benefit under the scheme.

The prevailing land ownership system/record of land in different States/UTs will be used to identify the eligible SMF, subject to exclusion criteria.

The beneficiary will provide following information at the time of registration. >

1. The beneficiary will provide following information at the time of registration
2. Farmer’s / Spouse’s date of birth
3. Bank account number
4. IFSC/ MICR Code
5. Mobile Number
6. Aadhaar Number
7. Other customer information as available in the passbook which is required for mandate registration

Yes. The SMFs shall have the option to allow payment of his/her voluntary contribution to the Scheme from the financial benefits received by them from the PM-KISAAN scheme, directly. The eligible SMFs who are desirous of using their PM-KISAAN benefit for contributing for Pradhan Mantri Kisan Maandhan Yojana, will have to sign and submit an enrollment-cum-autodebit-mandate form for giving their consent for auto-debiting their bank accounts, in which their PM-KISAAN benefits are credited, so that their contributions are automatically paid.

The eligible SMFs who are not beneficiaries of PM-KISAAN or who have not given consent to allow payment from the benefit of PM-KISAAN shall submit an enrollment-cum-auto-debitmandate form for giving their consent to auto-debit a bank account which is normally used by them for bank transactions.

The eligible SMFs who are not beneficiaries of PM-KISAAN or who have not given consent to allow payment from the benefit of PM-KISAAN shall submit an enrollment-cum-auto-debitmandate form for giving their consent to auto-debit a bank account which is normally used by them for bank transactions.

The Central Government through the Department of Agriculture, Cooperation and Farmers Welfare shall also contribute an equal amount as contributed by the eligible subscriber, to the pension Fund. Account of such co-contributions shall be maintained separately by the LIC and these co-contributions along with fund earnings from time to time shall be utilized for pension payment on the date of vesting. Co-contributions would not be paid to subscribers in case of pre-mature exits. In such a case, the co-contributions along with fund earnings will be transferred back to Pension Fund.

Yes. The state/UT governments will have the option of sharing the burden of individual SMF beneficiary’s contribution.

The monthly contributions will fall due on the same day every month as enrollment date. The beneficiaries may also chose an option to pay their contributions on quarterly, 4-monthly or half-yearly basis. Such contributions will fall due on the same day of such period as the date of enrollment.

In case of death of subscriber before vesting date, the spouse of subscriber shall have an option of continuing the scheme by payment of remaining contributions under the scheme, provided she/he is not already an SMF beneficiary of the Scheme. The rate of contribution and vesting date shall remain the same. Pension accruals will be calculated as if subscriber were to be alive on the vesting date. However, the same pension would be payable to the spouse. Upon death of spouse after vesting date, pension corpus would be transferred back to Pension Fund.

In case of death of subscriber before vesting date, if the spouse does not exercise option of continuing under the scheme, then subscribers’ contributions along with fund interest earned or Savings Bank Interest whichever is higher would be payable to the spouse under the scheme In case of death of subscriber before vesting date, if there is no spouse, then subscribers’ contributions along with fund interest earned or Savings Bank Interest, whichever is higher, would be payable to the nominee/s under the scheme. The co-contributions made by Government along with fund interest earned after adjusting for difference between Savings Bank Interest payable and fund interest earned, if any will be credited back to Pension fund of Government.

If a subscriber dies after the date of vesting, his/her spouse shall be entitled to receive 50% of the pension received by such eligible subscriber as Family Pension, provided she/he is not already an SMF beneficiary of the Scheme, and such family pension shall be applicable only to the spouse After death of subscriber as well as of his/her spouse, the corpus i.e. total accumulated contributions made by the subscriber and the Government shall be credited back to the fund.

Upon completion of enrollment process at Common Service Centres (CSC), an enrollment-cum-auto-debit-mandate form will be generated for taking consent of those farmers who are also beneficiaries of PM-KISAAN Scheme for auto-debiting their PM-KISAAN benefits from their bank accounts and signed by the subscriber.

In respect of those farmers who are not beneficiaries of PM-KISAAN Scheme, the enrollment-cum-auto-debit-mandate form will be generated for taking their consent for auto-debiting their active bank accounts and signed by the subscriber.

The CSC Centres would scan the signed enrollment-cum-auto-debit mandate form and upload the same on the CSC system.

Subsequent to this a pension card would be generated and given to subscriber as proof of pension account having been opened.

The eligible beneficiaries may alternatively also enroll themselves by contacting physically the State Nodal Officers (SNOs) (or agencies designated by them) in their respective districts.

A Subscriber, who desires to change the bank details or any other details which are incorrect, will approach CSC or the Village Level Entrepreneur (VLE) present at the CSC, along with Pradhan Mantri Kisan Maandhan Yojana number and Aadhaar Card. However, the Date of Birth of the subscriber cannot be changed at any time. The VLE at CSC will validate the credentials of the member on the payment of the amount/fee as prescribed by the Government from time to time.

Various conditions that may cause the issue are:

1. It may so happen that subscriber’s bank account may not have sufficient funds for auto-debit of contributions to be successful. When contribution auto-debit is not successful on payment cycle immediately, following the contribution due date, the subscriber’s account will be deemed to have defaulted or will be treated as an account in default.

2. The demand would then be repeated in the next payment cycle.

3. When a Pradhan Mantri Kisan Maandhan Yojana Pension Account is in default, the same may be regularized with payment of all contributions that have fallen due along with interest as follows :

i. Until 1 month from first unpaid contribution: No late fee would be charged. Account can be regularized by paying contribution amount only. Three payment cycles demand would be raised for payment of contribution without any interest.
ii. After one month from last unpaid contribution:

• No interest would be charged on the amount of contribution that became due immediately preceding the payment cycle date.
• However, if there are arrears of installments due on the due date immediately preceding the payment cycle date, late fee or at saving bank interest would be charged. Such late fee would be computed on each of the installment from due date of installment to the due date preceding the payment cycle date. If the period of default of a particular installment is up to 12 months, the reckoning of interest would be simple interest method. But if period of default of a particular installment is over 12 months, then compounding interest would be reckoned for completed number of years’ part and for remaining period simple interest would be reckoned.
• The rate of interest/late fee would be the one that is prevailing on the date of payment cycle date, as declared by the Government from time to time
• The rate of interest/late fee would be the one that is prevailing on the date of payment cycle date, as declared by the Government from time to time

iii. The interest/late fee charged would be credited into pension account and shall be part of fund earnings under the scheme.
iv. Interest is reckoned only from the date of remittance and credited on annual basis.
v. Matching amount of co-contribution shall be credited by GOI which shall be maintained separately and this portion shall be utilized only for pension corpus on the vesting date.

4. If contributions remain unpaid for a period of six months, such account status would be changed to ‘dormant account’ and for dormant accounts demand would not be raised further. Suitable SMS alerts/notices would, however, be sent for the dormant status accounts for a period of three years from date of first unpaid contribution. He/she will, however, be allowed to regularize his/her contribution by paying the entire outstanding dues, along with interest of the rate as determined by the Government from time to time.

5. After lapse of period of three years from the date of last unpaid contribution, SMS alerts / notices would be stopped. However, Subscriber may make inquiries about status of his account through dedicated call centre or make on-line web inquires. He/she will, however, be allowed to regularize his/her contribution by paying the entire outstanding dues, along with interest of the rate as determined by the Government from time to time.

6. If a beneficiary becomes ineligible for the Pension under Pradhan Mantri Kisan Maandhan Yojana, his account will be active but Government’s contribution (50%) shall be stopped. If beneficiary agrees to pay the entire amount of the contribution, he will be allowed to operate the account. At the age of 60, he shall be allowed to withdraw his contribution with an interest equivalent to the prevailing saving bank rates.