- Farmers will have to contribute Rs 100 per month under this scheme that provides a fixed monthly pension of Rs 3,000 on the attainment of 60 years.
- Union Govt will also contribute an equal amount to the pension fund to be managed by the LIC, which will be responsible for the pension payout.
- The central government in its first cabinet meeting had approved a separate pension scheme for farmers with an aim to cover Rs 5,00,00,000 beneficiaries in the first 3-years.
- Union Agriculture Minister Narendra Singh Tomar urged all States and UT to roll out the program at the earliest.
Published On : 14 Jun 2019
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