
PM-SYM stands for Pradhan Mantri Shram Yogi Maandhan, a voluntary and contributory pension scheme for unorganized workers in India. It aims to provide social security to these workers, ensuring a minimum monthly pension of ₹3,000 after they reach the age of 60. The scheme is administered by the Ministry of Labour and Employment and implemented through various channels like LIC and CSC eGovernance Services India Limited.Â
- Voluntary and Contributory:
Workers can voluntarily join the scheme and contribute regularly until the age of 60.Â
Â
- Minimum Assured Pension:
Upon reaching 60, beneficiaries are entitled to a minimum monthly pension of ₹3,000.Â
Family Pension:
If a subscriber dies, the spouse will receive 50% of the pension as family pension.Â
Â
- Unorganized Sector Focus:
The scheme specifically targets workers in the unorganized sector, including home-based workers, street vendors, mid-day meal workers, and many others.Â
Â
- Monthly Contribution:
The amount of monthly contribution varies based on the entry age of the subscriber.Â
Â
- Enrollment Centers:
Enrollment can be done at Common Service Centers (CSCs) and other designated centers.Â
Â
- 1. Eligibility:Individuals aged 18-40 years with a monthly income of up to ₹15,000 and who are not members of EPFO, ESIC, or NPS are eligible.
- 2. Registration:Individuals need to register at designated centers and provide necessary documents like Aadhaar card, bank passbook, and consent for auto-debit.
- 3. Contribution:Subscribers need to make regular monthly contributions until the age of 60.
- 4. Pension:
Upon reaching 60, they will start receiving the monthly pension.Â
Â
