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.