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Category — GS Paper 2 ///Published — 2026-09-16 ///Exam — Both Prelims and Mains ///Tags — Government Schemes, Pension, Agriculture ///Category — GS Paper 2 ///Published — 2026-09-16 ///Exam — Both Prelims and Mains ///Tags — Government Schemes, Pension, Agriculture ///

News · GS Paper 2

PM-KMY: Pension Security for Small Farmers Turns 7

Pradhan Mantri Kisan Maandhan Yojana (PM-KMY), launched in September 2019, is a voluntary contributory pension scheme for Small and Marginal Farmers (SMFs) offering a minimum assured pension of ₹3,000 per month after age 60, with equal matching contributions from the Central Government. With nearly 25 lakh farmers enrolled by February 2026, the scheme marks a shift from income support to life-cycle social security for farmers, making it highly relevant for both Prelims facts and Mains analysis of welfare schemes.

2026-09-16

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Pradhan Mantri Kisan Maandhan Yojana (PM-KMY)

Why in News?

PM-KMY completed seven years since its launch in September 2019, highlighting its role in providing old-age social security to Small and Marginal Farmers (SMFs).

Key Features

Nature: Voluntary and contributory old-age pension scheme; a Central Sector Scheme.
Implementing Agency: Department of Agriculture & Farmers Welfare, Ministry of Agriculture & Farmers Welfare, in partnership with Life Insurance Corporation of India (LIC).
Pension Benefit: Minimum assured pension of ₹3,000 per month after attaining 60 years of age.
Family Pension: On the subscriber's death after pension begins, the spouse receives 50% of the pension (₹1,500/month), subject to scheme conditions.
Contribution Model: Equal matching contribution — farmer and Central Government contribute equally.
Contribution Amount: Farmers joining between 18–40 years of age contribute ₹55 to ₹200 per month, depending on entry age.
Auto-Debit: Contributions auto-deducted from linked bank account; farmers may voluntarily use PM-KISAN benefits for PM-KMY contributions.

Eligibility

Small and Marginal Farmers (SMFs) with cultivable landholding up to 2 hectares.
Age between 18 and 40 years at enrolment.

Exclusion Criteria

Beneficiaries of other schemes are excluded: NPS, ESIC, EPFO, PM-SYM, PM-LVM, institutional landholders, constitutional post holders, certain elected representatives, serving/retired government and PSU employees, income-tax payers, and registered professionals (doctors, engineers, lawyers, CAs, architects).

Exemption: Multi-Tasking Staff (MTS), Class IV and Group D employees are exempted from exclusion.

Coverage and Performance

24,96,252 farmers enrolled as of February 2026.
Haryana leads in enrolments, followed by Bihar.
₹540.66 crore utilised for implementation and outreach since launch.

Significance

Strengthens life-cycle social security for farmers, reducing old-age financial vulnerability.
Shifts farmer welfare beyond production and income support towards pension safety nets.
Combines contributory pensions, government matching, financial inclusion and family protection.
Ensures dignity in old age for those contributing to India's food security.

Related Schemes for Comparison

PM-SYM: Similar pension scheme for unorganised sector workers.
PM-KISAN: Income support scheme (₹6,000/year) whose benefits can fund PM-KMY contributions.
Kisan Credit Card (KCC): Short-term credit for working capital, consumption, post-harvest expenses.