Over 30.6 lakh persons enrolled under PM-SYM Scheme

The Minister of State for Labour and Employment Santosh Kumar Gangwar stated in Lok Sabha that over 30.6 lakh persons have been enrolled so far under the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme.

PM-SYM Scheme

The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme provides a fixed monthly pension after the age of 60 years. The features of the scheme are:

  • The workers in the unorganized sectors whose monthly income is less than 15000 are eligible under the scheme.
  • The scheme provides a monthly pension of Rs. 3000 to the employees of the unorganised sector after they attain the age of 60 years.
  • A matching contribution would be made by the Central Government for the monthly premiums.
  • The pension benefits can be availed just by paying Rs 55 by those entering the scheme at the age of 18 and Rs 100 by those entering the scheme at the age of 20.
  • Those above 40 are not eligible under the scheme.
  • It is a voluntary and contributory pension scheme. It is running alongside the existing Atal Pension Yojana, which guarantees returns post-retirement. Beneficiaries under the Atal Pension Yojana are not eligible to avail the benefits of the scheme.

More than 10 crore workers are expected tp be benefited from the scheme. The scheme is aimed at providing social security to the workers from the unorganized sector.

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