Prime Minister Modi has launched the Pradhan
Mantri Shram Yogi Mandhan (PM-SYM) Yojana in Gandhinagar, Gujarat. The scheme
was announced in the interim budget 2019.
Under the scheme, an assured monthly pension of
Rs. 3000 rupees per month will be 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 entry 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. The contribution is to be made through ‘auto-debit’
facility from the beneficiary’s savings bank account or Jan- Dhan account. The
Government will deposit equal matching share in the account of the worker every
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