Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) Overview
Key Points
The Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) has completed seven years, offering old-age social security to Small and Marginal Farmers through a pension mechanism. This is crucial for UPSC aspirants as it relates to GS Paper 2 and 3. Last Updated: 16-09-2026
Key Facts About PM-KMY
- Pradhan Mantri Kisan Maandhan Yojana (PM-KMY) is a voluntary and contributory old-age pension scheme for Small and Marginal Farmers (SMFs).
- Administered by the Department of Agriculture & Farmers Welfare, Ministry of Agriculture & Farmers Welfare, with LIC as a partner.
- Provides a minimum assured pension of ₹3,000 per month after the age of 60.
- Offers a family pension of ₹1,500 per month to the spouse upon the subscriber's death.
- Operates on an equal matching contribution model between the farmer and the Central Government.
- Farmers aged 18 to 40 years contribute ₹55 to ₹200 per month based on entry age.
- Eligibility: SMFs with cultivable landholding up to 2 hectares, aged 18 to 40 years.
- Excludes beneficiaries of other social security schemes and certain professionals and government employees.
- Auto-debit facility for contributions, with optional use of PM-KISAN benefits.
- As of February 2026, 24,96,252 farmers enrolled, with ₹540.66 crore utilized.
India's Social Security Framework for Farmers
The PM-KMY is significant at a macro level as it aligns with India's strategic goal of enhancing social security for its agricultural workforce. By providing a pension safety net, it reduces financial vulnerability and contributes to the broader economic stability of rural India. The scheme's growth, with over 24 lakh enrollments, showcases India's commitment to farmer welfare, setting a benchmark in social security initiatives globally.
UPSC Relevance
GS Paper 2: Welfare schemes for vulnerable sections of the population by the Centre and States and the performance of these schemes.
GS Paper 3: Issues related to direct and indirect farm subsidies and minimum support prices.
Prelims: Questions on eligibility, benefits, and exclusions of PM-KMY.
Mains: Analytical themes on social security for farmers and its impact on rural development.
FAQ Section
What is the Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)?
The PM-KMY is a voluntary pension scheme for Small and Marginal Farmers, providing a minimum assured pension of ₹3,000 per month after the age of 60.
Why is PM-KMY important?
It offers financial security to farmers post-retirement, reducing their old-age financial vulnerability and contributing to India's social security framework.
What are the key features of PM-KMY?
Key features include a contributory pension model, family pension, eligibility for farmers with up to 2 hectares of land, and an auto-debit facility for contributions.
Detailed Coverage
- PM-KMY is a voluntary old-age pension scheme for Small and Marginal Farmers.
- Administered by the Department of Agriculture & Farmers Welfare.
- Offers a minimum pension of ₹3,000 per month after age 60.
- Spouse eligible for 50% family pension if the subscriber dies.
- Equal matching contribution model between farmers and the Central Government.
- Farmers aged 18-40 contribute ₹55 to ₹200 monthly.
- Open to Small and Marginal Farmers with landholding up to 2 hectares.
- Excludes beneficiaries of other social security schemes.
- Auto-debit facility for farmer contributions from linked bank accounts.
- As of February 2026, 24,96,252 farmers are enrolled.
- Haryana and Bihar lead in enrollments.
- ₹540.66 crore utilized for scheme implementation.
- Enhances life-cycle social security for farmers.
- Reduces old-age financial vulnerability.
- Aims for security and dignity in old age for contributors.
- Recently celebrated seven years of service to farmers.