Monday, 3 June 2019

PM Kisan Pension Yojana new Eligibility Criteria and more

Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana to "all" land holding eligible farmer families, the Central Government approved a new pension cover for farmers in its first Cabinet meeting on forming the new government.

The Pradhan Mantri Kisan Pension Yojana will provide
small and marginal farmers with a minimum fixed pension of Rs 3,000 per month on attaining the age of 60 years.

In a statement, the government said that an estimated 5 crore farmers will be receiving the pension benefit in the first three years itself. The Central government will make an equal contribution towards this voluntary 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," the Ministry of Agriculture and Farmers Welfare said in a release.

"It is also for the first time since independence that such a pension coverage has been envisioned for farmers," it further said.

Features of the PM Kisan Pension Yojana
  1. It is a voluntary and contributory pension scheme for all small and marginal farmers across the country.
  2. Those between 18 to 40 years of age can participate in the PM Kisan Pension Yojana.
  3. A minimum fixed pension of Rs 3,000 will be provided to the subscribers on attaining the age of 60 years.
  4. The contribution will depend on the subscribers age and the expected pension amount. For example, a beneficiary farmer is required to contribute Rs 100 per month at median entry age of 29 years to receive a pension of Rs 3,000.
  5. The Central Government will make a contribution to the Pension Fund equal the amount contributed by the eligible farmer. 
  6. On the subscriber's death, while receiving pension, the spouse of the beneficiary shall be entitled to receive 50 percent of the pension received by the beneficiary as family pension, provided he/she is not already a beneficiary of the scheme. 
  7. 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 contribution.
  8. An interesting feature of the Scheme is that the farmers can opt to allow his/her monthly contribution to the Scheme to be made from the benefits drawn from the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme directly.
  9. A farmer can also pay his monthly contribution by registering through Common Service Centres (CSCs) under MeitY.

PM Kisan beneficiary identification

The prevailing land-ownership system/record of land in different States/Union Territories will be used to identify the intended beneficiaries for transfer of scheme benefits. Responsibility of identifying the landholder farmer family eligible for benefit under the scheme is of the State/UT Government.

Exclusion criteria under PM-Kisan

i. Former and present holders of constitutional posts

ii. Former and present Ministers/ State Ministers and former/present Members of Lok Sabha/ Rajya Sabha/ State Legislative Assemblies/ State Legislative Councils, former and present Mayors of Municipal Corporations, former and present Chairpersons of District Panchayats.

iii. All serving or retired officers and employees of Central/ State Government Ministries /Offices/Departments and its field units Central or State PSEs and Attached offices /Autonomous Institutions under Government as well as regular employees of the Local Bodies (Excluding Multi Tasking Staff / Class IV/Group D employees)

iv. All superannuated/retired pensioners whose monthly pension is Rs.10,000/-or more(Excluding Multi Tasking Staff / Class IV/Group D employees)

v. All Persons who paid Income Tax in the last assessment year.

vi. Professionals like Doctors, Engineers, Lawyers, Chartered Accountants, and Architects registered with Professional bodies and carrying out profession by undertaking practices. 



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