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Farmers To Contribute Rs 100 per month Under PM Kisan Pension Scheme
- The Government has announced that farmers will be required to contribute Rs 100 per month under the newly launched Pradhan Mantri Kisan Pension Yojana (PMKPY) for the monthly pension.
- Additionally, the central government will also contribute an equal amount to the pension fund to be managed by the LIC, which will be responsible for the pension payout.
- PMKPY is a voluntary and contributory pension scheme, under which farmers will get a minimum fixed pension of Rs 3000 per month, upon attaining the age of 60.
- The minimum age to join the scheme is 18 and maximum age is 40 and will cover all small and marginal farmers across the country.