Salient features of the scheme:
- It is a voluntary and contributory pension scheme for all Small and Marginal Farmers (SMF) across the country.
- There is an entry age of 18 to 40 years with a provision of minimum fixed pension of Rs.3,000/- on attaining the age of 60 years.
- A beneficiary farmer is required to contribute Rs 100/ - per month at median entry age of 29 years. The Central Government shall also contribute to the Pension Fund an equal amount as contributed by the eligible farmer.
- After the subscriber’s death the spouse of the SMF beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension, provided he/she is not already an SMF beneficiary of the Scheme.
- Synergy between schemes:
- The farmers can opt to allow his/her monthly contribution to the Scheme to be made from the benefits drawn from the PM-KISAN Scheme directly.
- Alternatively, a farmer can pay his monthly contribution by registering through Common Service Centres (CSCs) under MeitY.
