Summary
Farmers and the government each put in the same amount each month.
When a farmer reaches 60, they receive at least 3,000 rupees every month.
If a farmer dies, the spouse can still receive half of the pension.
Key Points
5 points1
The scheme started in 2019 and has about 24.9 lakh members.
2
Farmers can contribute between 55 and 200 rupees per month, depending on age.
3
The government matches every contribution, doubling the saved amount.
4
The plan is voluntary and only for farmers with up to two hectares of land.
5
Family members can continue the plan if the farmer dies before age 60.
New Words to Learn
8 wordspension
regular money paid after retirement
contributory
a system where everyone adds money
eligible
allowed to take part
monthly
once each month
matching contribution
the same amount added by the government
spouse
husband or wife
enrolment
signing up for a program
scheme
planned program
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