- Union Government has said that over 30 lakh persons have been enrolled under Pradhan Mantri Shram Yogi Maandhan Scheme (PM-SYM).
- Pradhan Mantri Shram Yogi Mandhan(PM-SYM) scheme was announced in the interim budget 2019.
- Under the scheme,an assured monthly pension of Rs.3000 rupees per month is provided to workers in the unorganised sector after 60 years of age.
- An unorganised sector worker whose monthly income is Rs 15,000/ per month or less and belong to the age group of 18-40 years are eligible for the scheme.
- To avail the scheme,workers have to contribute an amount ranging from ₹55 to ₹100 each month depending on their age at the time of joining the scheme. Government will also deposit equal matching share in the account of the worker every month.
- The pension scheme comes with certain conditions such as Informal workers already covered under the National Pension Scheme,the Employees’ State Insurance Corporation Scheme or Employees’ Provident Fund Scheme are not eligible and income tax payers are also not eligible under this scheme.
- During the receipt of pension,if the beneficiary dies,the spouse of the beneficiary will be entitled to receive 50% of the pension received by the beneficiary as family pension.This family pension is applicable only to the spouse of the beneficiary.
- In case,the beneficiary dies before the age of 60,his/her spouse will be entitled to join and continue or exit/withdraw from the scheme provided the beneficiary had given regular contribution.
2 min read