Government of India launched Farmer Pension Scheme

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Farmer pension launched

India launched Farmer Pension Scheme

The Union Cabinet, chaired by Prime Minister Narendra Modi has approved a new Central Sector Farmer Pension Scheme. It is estimated that 5 crore small and marginal farmers will benefit in the first three years itself.  

The Central Government would spend Rs. 10774.50 crore for a period of 3 years towards its contribution (matching share) for providing social security cover as envisaged under the scheme.

Agriculture Minister Narendra Singh Tomar said the government has approved a pension scheme for all small and marginal farmers (SMF), subject to certain exclusion clauses, with a view to providing social security net as they have minimal or no savings to provide for old age and to support them in the event of the consequent loss of livelihood. 

Eligibility of National Farmer Pension Scheme

Farmer Pension Scheme is a voluntary and contributory pension scheme for all Small and Marginal Farmers (SMF) across the country. The entry age is 18 to 40 years with a provision of a minimum fixed pension of Rs.3,000/- on attaining the age of 60 years.

 For example, a beneficiary farmer is required to contribute Rs 100/ – per month at the median entry age of 29 years. The Central Government shall also contribute to the Pension Fund in an equal amount as contributed by the eligible farmer.

Even, If the particular farmer death, while receiving a pension, the spouse of the SMF beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as a family pension, provided he/she is not already an SMF beneficiary of the Scheme.

If the death of the subscriber happens during the period of contribution, the spouse shall have the option of continuing the Scheme by paying regular contributions.

Features of the National Farmer Pension Scheme

The Farmer Pension Scheme’s interesting feature is that the farmers can opt to allow/her monthly contribution to the Scheme to be made from the benefits drawn from the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme directly. Alternatively, a farmer can pay his monthly contribution by registering through the Common Service Center (CSCs) under his locality

The scheme, the minister said, provides for the utilization of services of the Common Service Center (CSCs e-Governance Services India Ltd) or alternatively the State Nodal Officers of the State/UT Governments under PM-Kisan Scheme for enrollment of farmers.

Benifits of PM Kisan Maandhan Pension Scheme:

 Pradhan Mantri Kisan Samman Nidhi (PM Kisan) Schemes provide financially good news for farmers. Now, to provide financial help to the farmers in their old age, the government has started a pension of up to Rs 3000. facility PM Kisan Maandhan Yojana. 

The farmers will be given a pension under PM Kisan Maandhan Yojanader after 60 years. More importantly, not need any paperwork if you are an account holder in PM Kisan and registration will be done directly in PM Kisan Maandhan Scheme.

There is a provision for pension under this scheme after the age of 60 years according to the information given on the website of the PM Kisan Maandhan Scheme. Any farmer between 18 years to 40 years can apply. 

Documents need to be Enrollments online

1. Aadhar Card
2. Identity Card
3. Income Certificate 
4. Bank Account Passbook
5. Khasra Khatauni of the field
6. Age Certificate
7. Mobile Number
8. Passport Size Photo

National Pension Scheme Benefit:

  •   Monthly pension or lump sum at retirement.
  •  Widow and an Orphan pension in case of death before retirement.
  •   Disability pension in case of disability before retirement age
  •   Any Farmer can apply at the age of 18-40 years.

So implementing the farmer pension Scheme, There are a lot of farmers will be benefited across the country. Because it will help the financial requirement at the age of 60 years of farmer.

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