PradhanMantri Shram Yogi Maan-Dhan (PM-SYM) is a government-aided monetary benefit, a pension scheme, specially designed for the unorganised workers in India. PM-SYM is a pension scheme which has been instituted for old age protection and
social security of unorganised workers (UW).
Who will get the benefit of PM-SYM?
According to the government directives, PM-SYM pension scheme covers a large number of unorganised workers including rickshaw pullers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, home-based workers, own-account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audiovisual workers or in similar other occupations.
Who all are eligible for PM-SYM?
The resident Indians who are associated with the aforementioned activities or a job with which they can be categorised as unorganised workers are eligible to receive the pension under PM-SYM. The entry age of the person should be between 18 and 40 years and the monthly income should be Rs 15,000 or below. The person should not be engaged in the organised sector (membership of EPF/NPS/ESIC), an income taxpayer.
Other requirements
Further, the individuals having an Aadhaar card, a savings bank account or Jan Dahn account number with an IFSC code will be eligible to receive the pension under PM-SYM.
Pension under PM-SYM
As per the prescribed rules of PM-SYM, the subscriber is entitled to receive a minimum assured pension of Rs 3,000 per month after attaining the age of 60 years and if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50 per cent of the pension as a family pension. Family pension is applicable only to a spouse.
How to apply for PM-SYM?
A person categorised under the specified category or fulfilling the criteria of an unorganised worker is required to visit the nearest Common Services Centre (CSC) in order to get enrolled for PM-SYM using Aadhaar Card and Savings bank/Jan-Dhan account number on self-certification basis.
The first subscription is paid in cash and auto-debit from next month onwards following which, the unorganised worker can also visit the PM-SYM web portal or can download the mobile app and self-register using Aadhar number/savings bank account/Jan-Dhan account number on self-certification basis.
