The PM Kisan Maandhan Yojana (PM-KMY) was launched in 2019 as a voluntary and contributory old-age pension scheme to provide social security to Small and Marginal Farmers (SMFs). The scheme is implemented in collaboration with the LIC and has recently completed 7 years of operation.
The PM-KMY offers eligible landholding SMFs in the age group of 18 to 40 years with cultivable land up to 2 hectares a steady monthly pension starting from the age of 60.
Enrolled farmers are required to make monthly contributions ranging from ₹55 to ₹200, depending on their entry age. It is to be noted that as of February 2026, a total of 24.96 lakh farmers have enrolled in the scheme across the country.