PM Modi’s kishan Pension Scheme 2020

The Modi government has decided to start the PM kishan Pension Scheme, giving relief to the farmers in their first cabinet meeting. Under which the central government will cover about 12-13 crore farmers under this PM Kisan Pension Scheme. In this government scheme, Modi 2.0 Government will send financial assistance to this amount of Rs. 50 million in the first phase. The Pension Scheme for Farmers will help in reducing the financial burden on them.

This Farmer Pension Scheme of Modi 2.0 will connect the farmers of the age group of 18 to 40 years with this scheme. After completing the age of 60 years, every farmer will be given Rs 3,000 per month as Financial Assistance to Farmers. If the person receiving the benefit dies due to any reason, then his wife will get 50% percent of the sum assured.

The central government will provide approximately Rs. 10774.50 crores to successfully run the PM kishan Pension Scheme.

PM Farmer Pension Scheme – Benefits

In this scheme launched for financial assistance of farmers, 50 million small and marginal farmers will come in the first phase. After the age of 60 years, the amount of Rs.3 thousand rupees given will be given in addition to old age, old age pension. Meaning 3,000 farmers pension + old age pension. But the 18 year old farmer will have to pay a monthly premium of Rs 55 and the government will pay the same amount.

If the farmer collects 100 rupees every month, then the government will also collect 100 rupees per month. After that, after the age of 60, he will receive 3,000 pension. About ten thousand crores will be spent on the farmer pension scheme.

To take advantage of the PM Kisan Pension Yojana, all the farmers can read the terms given below:

  • The PM Farmer Pension Scheme will be a contributory pension scheme for all small and marginal farmers across the country (Small Marginal Farmers – SMF).
  • To take advantage of this scheme, farmers should be between 18 and 40 years of age.
  • A beneficiary farmer must contribute Rs. 100 per month in average age of 29 years. The contribution will be made by the central government to the eligible farmer.
  • After the death of the beneficiary, his wife or husband will be entitled to receive 50 percent pension.
  • To avail the benefits of PM Farmer Pension Scheme, the farmer can apply for payment of his monthly contribution by registering online through Common Service Center (Common Service Center – CSC) under MeitY.