Pension for small and marginal farmers announced - Eastern Mirror
Thursday, March 30, 2023

Pension for small and marginal farmers announced

By EMN Updated: Sep 10, 2019 12:08 am

Dimapur, Sep. 9 (EMN): The department of Agriculture has informed that a new central sector scheme the Pradhan Mantri Kisan Maandhan Yojana (PM-KMDY) has been announced for implementation in the state of Nagaland.
The government publicity agency, the department of Information and Public Relations (IPR), gave updates on Monday informing about the programme.

The PM-KMDY is a voluntary and “contributory based” pension scheme administrated by the ministry of Agriculture & Farmers Welfare in partnership with the LIC, updates stated.

Small and marginal farmers who own cultivable land up to 2 hectares and below and are in the age group of 18-40 years are eligible to subscribe and will receive minimum assured pension of INR. 3000 per month after attaining the age of 60 years.

The Agriculture department is the nodal department for the scheme in the state. It will be involved in enrolment to the scheme along with Common Service Centres, the IPR stated.

In this regard, the administrative heads and heads of IT&C, Animal Husbandry and Veterinary Services, Land Resource Development, Fisheries & Aquatic Resources, and the Horticulture and Sericulture departments are requested to take necessary action to educate the people and engage enrolment of small and marginal farmers in the scheme, the IPR added.

According to a document detailing the scheme’s features on the website of the ministry of Agriculture & Farmers Welfare, the Pradhan Mantri Kisan Maan-Dhan Yojana was started to provide social security to all landholding small and marginal farmers in the country. These farmers have minimal or no savings and also do not have any source of livelihood when they reach old age, the details state.

“The scheme aims to help them live a healthy and happy life after they reach their old age. Under this scheme, a fixed pension of INR. 3,000 will be provided to all eligible small and marginal farmers,” the details about the scheme states.

The scheme is a voluntary and contribution-based pension scheme. Pension will be paid to the farmers from a Pension Fund managed by the Life Insurance Corporation of India.

Farmers will have to contribute an amount of funds that are between INR 55 to INR 200 per month in the pension fund till they reach the retirement date ie., the age of 60 years. The central government will also make an equal contribution of the same amount in the pension fund.

Farmers who are of the age of 18 years and above and up to 40 years are eligible to join the scheme.
Spouses of the small and marginal farmers are also eligible to join the scheme separately and they will also get separate pension of INR 3000 when they reach the age of 60 years.

“The farmers who have joined the scheme may also leave the scheme later if they do not wish to continue for any reason. Their contributions to the Pension Fund will be returned to them along with interest.”

“In case of unfortunate death of the farmer before retirement date, the spouse may continue in the scheme by paying the remaining contributions till the remaining age of the deceased farmer,” the details state.

In case of death of the farmer before retirement date, if the spouse does not wish to continue, the total contribution made by the farmer along with interest will be paid to the spouse. In case of death of the farmer before retirement date, if there is no spouse, then total contribution along with interest will be paid to the nominee, the document stated.

If the farmer dies after the retirement date, the spouse will receive 50% of the pension i.e. INR.1500 per month as Family Pension. If the farmer is a beneficiary of the PM-KISAN Scheme, he/she may allow the contribution to be directly paid from the same bank account in which he/she receives the PM-Kisan benefit.

The eligible farmers desirous of joining the scheme will visit nearest Common Service Centre along with their Aadhaar number and bank passbook or account details. Enrolment under the scheme is free and the farmers are not required to make any payment for the purpose at the CSC centres, the document stated.

By EMN Updated: Sep 10, 2019 12:08:33 am