Farmers Enrolled Under PM- KMY

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More than 21.40 lakh farmers have so far joined the voluntary pension scheme for small and marginal farmers Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY), Union Agriculture Minister Narendra Singh Tomar said on Tuesday. The pension scheme was launched in September 2019 to provide old age protection and social security.The enrollment of eligible farmers under PM-KMY was started by Common Service Centres (CSC e-Governance Services India Ltd) from August 2019.
The minister said an Empowered Committee under the chairmanship of the Cabinet Secretary with Secretaries of Agriculture, IT and Finance Ministries was set up to review and monitor implementation of the scheme through appropriate implementation strategies and to approve any modifications.

Further, as per directions of the committee, a Group of Secretaries was constituted to adopt a common approach, and monitor and coordinate implementation of the scheme.
PM-KMY is a voluntary and contributory pension scheme in which eligible farmers falling in the age group of 18-40 years are required to make a monthly contribution between Rs 55-200 and matching contributions are shared by the Centre with the pension fund manager Life Insurance Corporation of India.

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From the accruals, a monthly pension of Rs 3,000 per month would be provided as and when the farmers attain the age of 60 years.

Source: Economic Times

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