PM launches 'Kisan Maan-dhan Yojana', pension scheme for traders & self-employed: Things to know

Prime Minister Narendra Modi on Thursday launched 'Kisan Maan-dhan Yojana' or PM-KMY and urged the farmers to join the old age pension scheme. The Prime Minister also inaugurated various development projects in Ranchi, Jharkhand.



Under the 'Kisan Maan-dhan' scheme, small and marginal farmers, who have attained the age of 60, will get a minimum pension of Rs 3,000 per month.


Here are some other important details about the scheme:


* All small and marginal farmers, who are currently aged between 18 and 40 years, are eligible to avail the benefits.


* "The scheme has an outlay of Rs 10,774 crore for the next three years," the government stated.


* Monthly contributions by the farmers to avail the pension scheme can be made from the instalments of PM-KISAN (Kisan Samman Nidhi) or through CSCs (Common Service Centers). Farmers, who are beneficiaries of PM-KISAN scheme, can also enroll for this scheme.


* The farmers will have to make a monthly contribution of Rs 55 to Rs 200, depending on their age of entry in the pension fund till they reach the retirement date. The Central government will also make an equal contribution of the same amount in the pension fund.