Prime Minister Narendra Modi announced the Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) in February 2019 under the Ministry of Labour and Employment. It was unveiled at Gujarat's Vastral. The largest pension system in the world is PM-SYM. The Pradhan Mantri Shram Yogi Maan-Dhan plan was created by the national government to safeguard the elderly and provide social security to unorganised workers (UW).
Pradhan Mantri Shram Yogi Maan Dhan (PM-SYM):-Download PDF Here
| Name of the scheme | PM-SYM |
| Full-Form | Pradhan Mantri Shram Yogi Maan-Dhan |
| Date of launching | 15th February 2019 |
| Government Ministry | Ministry of Labour and Employment |
Benefits of PM-SYM Scheme
Pradhan Mantri Shram Yogi Maan-Dhan is a voluntary, contribution-based pension scheme that aims to provide security and protection for non-union workers as well as the elderly. The program aims to benefit approximately 42 crore of workers in the country's unorganized sector.
This program is intended for workers in the unorganized sector and includes street vendors, rickshaw pullers, farm workers, midday meal workers, construction workers, construction workers or construction workers. other similar professions. There are around 42 crore of unorganized workers in the country. Under this scheme, the beneficiary after reaching the age of 60 will receive a guaranteed monthly pension of Rs 3000 / - per month and 50% of the pension will be paid to the beneficiary's spouse as a pension family after the death of the beneficiary.
Some of the benefits granted to beneficiaries under this program are mentioned below:
- They are given a promised monthly income, with each recipient receiving a minimum guaranteed income of Rs 3000 per month until they reach the age of 60.
- If the beneficiary dies while receiving the pension, the spouse will be entitled to 50 percent of the deceased's income as a family pension.
- If a beneficiary made regular contributions and died before reaching the age of 60, his or her spouse will be able to join and continue the plan by making monthly contributions or depart the plan according to the exit and withdrawal requirements.
Who is eligible under the PM-SYM Scheme?
To be eligible under the Pradhan Mantri Shram Yogi Maan Dhan, the candidate should fulfill the below-mentioned criteria:
- He/she should be an unorganized worker (UW) aged between 18 years to 40 years.
- He/she should have a monthly income of Rs. 15,000 or below.
- He/she should possess an Aadhar card along with a Savings Bank Account/Jan Dhan account number with IFSC.
Any individual who is engaged in the Organised Sector (membership of EPF/NPS/ESIC) and is an income taxpayer will not be eligible to apply for the PM-SYM Scheme.
How to enroll for PM-SYM?
Before registering in the Pradhan Mantri Shram Yogi Maan Dhan, the eligible member must have a savings bank account, a mobile phone, and an Aadhaar number.
- He/she can go to the nearest regular service centers (CSC eGovernance Services India Limited (CSC SPV) and register with PM-SYM using Aadhaar number and Jan-Dhan savings bank account/account number based on self-certification
- Beneficiaries can also access PM-SYM Portal and self-register using Aadhar number/savings bank account/Jan-Dhan account number on self-certification basis .
- The registration process is done by various registries known as the General Service Center UW groups can visit the nearest CSC with their documents and apply for the PM-SYM program.
- Life Insurance, ESIC/EPFO and all state and central government labor offices will inform unorganized workers of benefits and enrollment procedures. Join the PM-SYM Program.
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