Rs 55 per day Pension plan! Secure your old age with this new Modi govt scheme

The Union Ministry of Agriculture has started taking registrations for the ambitious Pradhan Mantri Kisan Pension Scheme from Friday. Agriculture Minister Narendra Singh Tomar said his ministry is working closely with the state governments to double the income of farmers. Farmers aged 18 to 40 years can participate and benefit from the pension scheme. The pension account can be opened at the age of 18 years with a monthly deposit of just Rs 55 per month. Farmer joining the pension scheme at the age of 40 will have to pay Rs 200 per month.

The agriculture minister said in a press conference on Friday that farmers need social security. Modi government has increased the MSP on crops by one and a half times. Also, Rs 6000 is being provided per year to farmers under the Pradhan Mantri Kisan Samman Yojana. 

In Kisan Pension Scheme, Tomar said farmers of 18 to 40 years can participate. The government will also deposit an amount equivalent to the one deposited by the farmer in the pension account. When the farmer attains the age of 60, s/he will become eligible for a pension of Rs 3000 per month.

Tomar said that when PM Narendra Modi will give time, the scheme will be launched formally in a grand manner. Today, it was soft-launched, the minister added. 

According to the Tomar, registration for the pension scheme will start now. Farmers can get themselves registered for the pension scheme at Common Service Centres. 

The minister further said that over 400 farmers of Assam, Odisha, Chhattisgarh and Gujarat have already joined the pension scheme. Farmers who have less than 2 hectares of land can open a pension account under this scheme. 

Key features of Kisan pension scheme

> Under PM Kisan Pension Scheme, farmers will get Rs 3000/month pension from the age of 60 years

> Farmers of 18-40 years age can join this scheme

> The farmer will have to deposit the money in the pension account. An equal amount to that of the farmer will be deposited by the government in the beneficiary's pension account. 

> Farmers joining at the age of 18 years will have to deposit  Rs 55 and a 40-years-old farmer will have to deposit  Rs 200.

> So far 400 farmers have registered for the pension scheme.