PM Kisan Samman Nidhi Yojana
The Government of India
has introduced an old age pension scheme for all land holding Small and
Marginal Farmers (SMFs) in the country, namely, the “Pradhan Mantri Kisan
Maan-Dhan Yojana (PM-KMY)”, as a voluntary and contributory pension scheme for
the entry age group of 18 to 40 years. The Scheme is effective from the 9th
August, 2019.
Objective and Benefits
There have been a series of interventions for income and price support by the Government for farmers. However, there is a felt need to create a social security net for the farmers as old age may result in loss of livelihood for many of them. Farming requires hard work in fields which becomes difficult at an advanced age. The problem is compounded in respect of small and marginal farmers as they have minimal or no savings to provide for old age. The Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY) provides for an assured monthly pension of Rs. 3000/- to all land holding Small and Marginal Farmers (SMFs), whether male or female, on their attaining the age of 60 years. Farmers falling within the purview of the exclusion criteria (as defined in Para 5 of these guidelines) are, however, not eligible for the benefit. The key features and other consequential benefits accruing to the subscribers of the Scheme are detailed further in these guidelines.
Definitions
(a) “BENEFICIARY” shall
mean the subscriber and in case of his/her death his/her spouse;
(b) “Contribution” means
the amount specified in the contribution chart appended with this Scheme as
modified by the Government from time to time, to be payable monthly or
periodically by an eligible subscriber to the scheme;
(c) “CSC” means “Common
Service Centre e-Governance Services India Limited – Special Purpose Vehicle” a
company promoted by the Ministry of Electronics and Information Technology
(MeitY).
(d) “EFFECTIVE DATE” in
relation to the Scheme means the date from which this scheme takes effect /
starts i.e. the 9 th August, 2019; 2
(e) “Enrolling Agency”
or “Enrollment Agency” means the agency chosen by the Government for enrollment
of subscribers. Presently, CSC-SPV and State Nodal Officers (SNOs) or agency
chosen / nominated by them is the enrolling agency.
(f) “ENTRY DATE” means
a. in relation to the original subscribers the Effective Date; and b. in
relation to new subscribers admitted to the Scheme after the Effective Date,
their Date of Joining;
(g) “Eligible
subscriber” means a Small and Marginal Farmer who is eligible to join this
Scheme;
(h) “Family” means, —
(i) wife, in the case of male eligible subscriber; (ii) husband, in the case of
a female eligible subscriber;
(i) “Government” or
“Central Government” or “Ministry” or “Department” means “Government of India
through the Ministry of Agriculture and Farmers Welfare, Department of
Agriculture, Cooperation and Farmers Welfare”;
(j) “LIC” or
“Corporation” means “Life Insurance Corporation of India” , a statutory
corporation established by Life Insurance Corporation Act, 1956;
(k) “Matching
contribution” means the equal amount as contributed by the eligible subscriber,
payable by the Central Government to the Fund;
(l) “NORMAL RETIREMENT
DATE” or the “Vesting date” shall mean in respect of each subscriber the date
on which he / she completes the age of 60 years;
(m) “Pension” means
Assured Monthly Amount payable as Pension under this Scheme to the eligible
subscriber or his/her spouse ;
(n) “Pension fund” or
“Fund” means the fund created by the Central Government and managed by LIC of
India in which the contributions made by the subscribers and the matching
contributions made by the Government would be deposited. The Government Pool
Account together with the Subscriber’s Individual Account (hereinafter called
the “SIA”) shall constitute the Pension Fund under the scheme.
(o) “Pradhan Mantri
Kisan Samman Nidhi Scheme” or “PM-Kisan” means the Central Sector Scheme
administered by the DACV&FW for providing direct income support to the
farmers.
(p) “Small and Marginal
Farmer” or “SMF” means a farmer who owns cultivable land upto 2 hectare as per
land records of the concerned State/UT”.
(q) “Sponsor Bank” means
bank nominated by the Corporation, presently the IDBI Bank, for providing
banking services under the scheme.
(r) “State Nodal Officers”
or “SNOs” means the officers of the State/UT Governments who are responsible
for preparing the list of farmers, including, SMFs under the Pradhan Mantri
Kisan Samman Nidhi (PM-Kisan) Scheme.
(s) “SUBSCRIBER” means a
Small and Marginal Farmer who has joined this Scheme, and his / her spouse in
case of his / her death;
Eligibility
All Small and Marginal
Farmers (SMFs) in all States and Union Territories of the country, who are of
the age of 18 years and above and upto the age of 40 years, and who do not fall
within the purview of the exclusion criteria as mentioned in the guidelines,
are eligible to avail the benefits of this Scheme by joining it.
SALIENT FEATURES
Pradhan Mantri Kisan Maan-Dhan Yojana has been 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 scheme aims to help them live a healthy and happy life after they reach their· old age.
Under this scheme, a fixed pension of Rs.3,000/- will be provided to all eligible· small and marginal farmers.
It 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 between Rs.55 to Rs.200 per month in·the Pension Fund till they reach the retirement date i.e. the age of 60 years.
The Central Government will also make an equal contribution of the same·amount in the pension fund.
Those farmers who are of the age of 18 years and above and upto 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 Rs.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 alongwith 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.
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.
If the farmer dies after the retirement date, the spouse will receive 50% of the· pension i.e. Rs.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 (CSC) along with their Aadhaar number and bank passbook or account details.
Later on alternative facility of enrollment through the PM-Kisan State Nodal· Officers or by any other means or online enrollment will also be made available.
Enrollment under the scheme
is free of cost and the farmers are not required to· make any payment for the
purpose at the CSC Centres.
Important Web-Links of PM Kisan Yojana
Online Registration: Click Here
Official Website: Click Here
.png)
.png)
0 Comments