This section will share in-depth information about the Kisan Maandhan Yojana benefits and its features. Please check the same below.
Mentioned below are some of the benefits of Pradhan Mantri Kisan Maandhan Yojana.
1. Benefits to the Family After an Eligible Farmer’s Death: Upon receiving a pension, on the death of an eligible farmer, the spouse will avail of 50% of the pension benefits. Also, a spouse will receive interest from this scheme or a savings bank interest, whichever is more. Only the spouse of an eligible farmer is liable to receive such benefits. Also, it is possible to exit from this scheme after the demise of an eligible farmer.
2. Disablement Benefits: Another critical benefit of this scheme is that a spouse of a beneficiary can receive the benefits under this scheme if the beneficiary becomes disabled permanently due to any reason before attaining 60 years. The spouses can also make contributions or exit from this scheme in case their beneficiaries are unable to make further contributions.
On exit from this scheme, the spouses of farmers will receive all the contributions made so far. In addition, they also receive an interest earned from this scheme or at an interest rate similar to that of current bank rate (Savings Scheme), whichever is higher.
3. Benefits After Exiting the Pension Scheme: If eligible farmers exit this Kisan Maandhan Yojana before ten years from joining this scheme, their contribution will get credited to their savings bank account along with the savings bank interest rate.
In case of exiting this scheme after completing 10 years from joining this scheme but before 60 years of age, eligible subscribers will receive their entire accumulated contribution amount. In addition, they will receive an interest earned from this scheme or a savings bank interest rate, whichever is higher.
Finally, in case of death of a farmer and their spouse, an accumulated fund corpus will get credited back to the fund.