1. This is a voluntary and contributory pension scheme for all Small and Marginal Farmers (SMF) in India. 2. Farmers in the age group of 18 to 40 years are eligible for the Scheme. 3. Farmers will have to contribute minimum of 55 to 200 Rs per month. Same amount will be contributed by the central government as contributed by farmers. 4. With a provision of minimum fixed pension of Rs.3,000/- on attaining the age of 60 years. 5. Upon the subscriber?s death, while receiving pension, the spouse of the farmers? beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension 6. If, the death of the subscriber happens during the period of contribution, the spouse shall have the option of continuing the Scheme by paying regular contribution. 7. Under the scheme farmers can also opt to allow contribution to be made directly from the benefits drawn from the PM-KISAN scheme. 8. LIC will be managed the pension fund under the PM-KISAN scheme