PM-SYM Yojana: Get Rs 3,000 Monthly, Know Eligibility & Process

PM-SYM Yojana: The government has launched a special scheme called ‘Pradhan Mantri Shram Yogi Maan Dhan Yojana (PM-SYM)’. This scheme ensures a guaranteed pension of Rs 3,000 every month in old age with your small contribution, so that you don’t have to beg in front of anyone after the age of 60.

This scheme is a boon to lakhs of people working in the unorganised sector, including street vendors, drivers, rickshaw pullers, construction workers, domestic workers, beedi workers and agricultural labourers. Please provide detailed information about this scheme, including eligibility criteria, contribution rules, and the complete application process.

Details of Pradhan Mantri Shram Yogi Maandhan Yojana:

PM-SYM, launched by the Government of India in February 2019, is a voluntary and contributory pension scheme for workers in the unorganized sector. The main objective of this scheme is to provide social security to these workers by providing a minimum pension of Rs 3,000 per month after the age of 60 years.

This scheme is especially for those who face a serious problem after working age or have no other source of income due to physical infirmity. So far, more than 46,29,664 people across the country have joined this scheme, which shows its popularity and need.

Eligible for PM-SYM:

Your monthly income should be Rs 15,000 or less.

The age of the applicant should be between 18 years to 40 years.

It includes street vendors, drivers, rickshaw pullers, construction workers, domestic workers, bidi workers, agricultural workers, and other similar unorganized workers.

People who pay income tax are not eligible for this scheme.

Those who are members of Employees’ Provident Fund Organization (EPFO), National Pension System (NPS), or Employees’ State Insurance Corporation (ESIC) are also not eligible for this scheme.

The government will also get an equal share. The most special thing about this scheme is that the government will deposit an amount equal to your contribution into your account. This is called a matching contribution. The employee must make a monthly contribution of their choice. This contribution depends on their age.

Whatever amount the employee deposits, the government will also deposit the same amount into that account. For example, if a worker deposits Rs 500 per month, the government will also deposit Rs 500 on its side, making the total monthly deposit Rs 1,000.

The younger you join, the less contribution. Another special feature of this scheme is that the younger you join, the lower the monthly contribution you will have to make and the more benefits you will get. A person joining this scheme at the age of 18 will have to contribute only Rs 55 per month. For a person aged 40, the monthly contribution will be Rs 200.

If you are eligible for this scheme, you can apply through your nearest CSC center or the online portal.

Required documents:

You will need only two main documents to join this scheme:

Aadhaar card

Savings bank account. You will also have to provide IFSC details along with your account.
Application process (through CSC)

Visit your nearest Common Service Center (CSC).

Submit the required documents (Aadhaar card, bank passbook).

The CSC operator will enter your information and take your biometric information.

After the whole process is completed, you will get your Shram Yogi Pension Account Number (SPNA) and Shram Yogi Card from the CSC itself.

Online Application (Self)

Visit the official website of the scheme https://maandhan.in/.

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