Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) (Old Age Protection)

[Indian]

Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) (Old Age Protection)​

• Voluntary and contributory pension schemes
• Monthly contribution ranges from Rs.55 to Rs.200 depending upon the entry age of the beneficiary.
• Under this schemes, 50% monthly contribution is payable by the beneficiary and equal matching contribution is paid by the Central Government.

Eligibility​

• Should be an Indian Citizen
• Unorganised Workers (working as street vendors, agriculture related work, construction site workers, workers in industries of leather, handloom, mid-day meal, rickshaw or auto wheelers, rag picking, carpenters, fisherman’s etc.
• Age group of 18-40 years
• Monthly income is below Rs.15000 and not a member of EPFO/ESIC/NPS (Govt. funded).

Benefits​

• After attaining the age of 60 yrs, beneficiaries are entitled to receive monthly assured pension of Rs.3000/-.
• On death of the beneficiary, spouse is eligible for 50% monthly pension.
• If husband and wife, both joins the scheme, they are eligible for Rs. 6000/- monthly pension jointly.