PMSYM - Pension Scheme for Unorganised Workers PDF

PDF Name	PMSYM – Pension Scheme for Unorganised Workers
No. of Pages	6
PDF Size	0.52 MB
Language	English
Tags	Sarkari Yojana
PDF Category	Government
Source / Credits	labour.gov.in
Uploaded By	Pradeep

PMSYM – Pension Scheme for Unorganised Workers - Summary

PMSYM – Pension Scheme for Unorganised Workers

The Indian government has launched a special pension scheme called Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) to provide financial security for unorganised workers during their old age.

Unorganised workers include various individuals such as home-based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, rickshaw pullers, landless labourers, own-account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audiovisual workers, and many others. These workers usually earn a monthly income of ₹15,000 or less and are within the age group of 18 to 40 years. Importantly, they must not be covered under the New Pension Scheme (NPS), the Employees’ State Insurance Corporation (ESIC) scheme, or the Employees’ Provident Fund Organisation (EPFO). Additionally, participants should not be income taxpayers.

Key Features of PM-SYM:

This voluntary and contributory pension scheme offers subscribers several benefits:

(i) Minimum Assured Pension: Subscribers to the PM-SYM scheme will receive a minimum assured pension of ₹3,000 per month once they reach 60 years of age.

(ii) Family Pension: If the subscriber sadly passes away while receiving their pension, the spouse is entitled to receive 50% of the pension that the subscriber was getting as a family pension. This family pension is only available to the spouse.

(iii) Continuation of Benefits: If a beneficiary maintains their contributions and passes away for any reason (before turning 60), their spouse can opt to continue the scheme by making regular contributions or can choose to exit the scheme according to the rules for exit and withdrawal.

For detailed information and to better understand the scheme, you can easily download the PMSYM – Pension Scheme for Unorganised Workers in PDF format using the link below. 📄✨

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