Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM) is a voluntary and contributory pension scheme aimed at providing old-age protection to unorganised sector workers.

Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM)

 

🎯 Objectives

• Social Security: Offer financial security to unorganised workers during their old age.

• Pension Assurance: Provide a minimum assured pension of ₹3,000 per month after attaining the age of 60 years.

👥 Eligibility Criteria

To enroll in PM-SYM, individuals must:

• Age: Be between 18 and 40 years.

• Income: Have a monthly income of ₹15,000 or less.

• Employment: Be engaged in the unorganised sector (e.g., street vendors, rickshaw pullers, agricultural workers).

• Exclusions: Not be covered under EPFO, ESIC, or NPS.

• Tax Status: Not be an income taxpayer.

• Documentation: Possess an Aadhaar card, a savings bank account, and an active mobile number.

💰 Contribution Details

• Contribution Amount: Varies based on the age at entry, ranging from ₹55 to ₹200 per month.

• Government's Share: The Central Government matches the subscriber's contribution.

• Payment Mode: Contributions are auto-debited from the subscriber's bank account.

🏦 Pension Benefits

• Monthly Pension: ₹3,000 per month after attaining 60 years of age.

• Family Pension: In case of the subscriber's demise, the spouse receives 50% of the pension as family pension.

• Joint Enrollment: If both spouses enroll, they are eligible for a combined pension of ₹6,000 per month.

🔄 Exit and Withdrawal Provisions

• Exit Before 10 Years: Subscriber's contribution returned with savings bank interest.

• Exit After 10 Years but Before 60 Years: Subscriber's contribution returned with interest earned by the fund or savings bank interest, whichever is higher.

• Death Before 60 Years: Spouse can continue the scheme or exit with the subscriber's contribution and interest.

• Permanent Disability: Similar provisions as in the case of death before 60 years.

📝 Enrollment Process

1. Visit CSC: Go to the nearest Common Service Centre (CSC).

2. Provide Documents: Submit Aadhaar card, savings bank account details, and mobile number.

3. Initial Contribution: Pay the first month's contribution in cash.

4. Auto-Debit Setup: Subsequent contributions are auto-debited from the bank account.

📞 Grievance Redressal

• Helpline: 1800 2676 888 (available 24x7).

• Email: ShramYogi@nic.in

• Online Portal: Complaints can also be registered through the official web portal or app.

📌 Key Highlights

• Target Beneficiaries: Approximately 42 crore unorganised sector workers in India.

• Scheme Type: Central Sector Scheme administered by the Ministry of Labour and Employment.

• Implementation Partners: Life Insurance Corporation (LIC) and Common Services Centres (CSCs).

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