PM Shram Yogi Maan-dhan scheme for unorganised workers | Fusion - WeRIndia

PM Shram Yogi Maan-dhan scheme for unorganised workers

PM Shram Yogi Maan-dhan scheme for unorganised workers

Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme is a pension plan for unorganised workers, like rickshaw pullers, street vendors, cobblers, domestic workers, agricultural and construction workers, beedi workers etc.

It was launched in 2019 to provide a monthly pension of ₹3,000 to unorganised workers after attaining 60 years.

The entry age for this scheme is 18-40 years. Their monthly income should not exceed ₹15,000.

The workers should not be engaged in organised sectors, and have no membership of EPF or NPS or ESIC. They should not be taxpayers.


They should have Aadhaar card and savings bank account or Jan Dhan Account number with IFSC.

The contribution towards the scheme starts at ₹55 per month for subscribers aged 18 years. The subscription varies with age. The subscribers aged 40 years should have to contribute ₹200 per month. The central government will make an equal contribution.

The subscribers should have to continue their contribution till the age of 60 years once they join the scheme.

The subscribers will get a monthly pension of ₹3,000 after attaining 60 years. Their spouse will receive a family pension in the event of the death of a subscriber. The monthly pension amount is equal to 50 per cent of the pension amount.

The subscribers can enrol at any Common Services Centre (CSC) in the country. They can get information about the scheme at any facilitation centre. All branches of LIC and labour offices of central and state governments and the offices of ESIC/EPFO will act as Facilitation Centres.

The subscribers will get their share of contribution with savings bank interest rate if they exit the scheme in less than a period of 10 years. On the other hand, they will get their share of contribution along with interest, if they exit after 10 years, but before attaining 60 years.

In such a case, the interest will be higher of accumulated interest as actually earned by the fund or at the savings bank interest rate.

The subscribers who have not paid their contributions continuously will be allowed to pay entire dues with a penalty, as per the decision of the government.

Image Credit: Government of India (National Portal of India ) Website Screenshot


Image Reference: https://www.india.gov.in/spotlight/pradhanmantri-shram-yogi-maan-dhan-pm-sym-pension-scheme-unorganised-workers

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