PRADHAN MANTRI SHRAM YOGI MAANDHAN (PM-SYM)
The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme, launched in February 2019, is a voluntary and contributory pension scheme designed to provide old age protection to workers in the unorganised sector. It assures a monthly pension of Rs. 3000/- after beneficiaries attain 60 years of age. Eligible individuals, aged 18-40 with a monthly income of Rs. 15000/- or less, who are not members of EPFO/ESIC/NPS (contributed by Central Govt.) or income tax assessees, can join. Beneficiaries contribute 50% of the monthly premium (Rs. 55-200), with the Central Government providing a matching contribution. Enrolment is facilitated through Common Service Centres and a self-enrolment portal. The article also highlights government efforts to improve retention and participation, including integration with the eShram portal and extending the revival period for dormant accounts.
The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme, launched in February 2019, is a voluntary and contributory pension scheme designed to provide old age protection to workers in the unorganised sector. It assures a monthly pension of Rs. 3000/- after beneficiaries attain 60 years of age. Eligible individuals, aged 18-40 with a monthly income of Rs. 15000/- or less, who are not members of EPFO/ESIC/NPS (contributed by Central Govt.) or income tax assessees, can join. Beneficiaries contribute 50% of the monthly premium (Rs. 55-200), with the Central Government providing a matching contribution. Enrolment is facilitated through Common Service Centres and a self-enrolment portal. The article also highlights government efforts to improve retention and participation, including integration with the eShram portal and extending the revival period for dormant accounts.
Exam linkage
GS Paper 2: Welfare Schemes for Vulnerable Sections of the Population by the Centre and States and the Performance of these Schemes; Mechanisms, Laws, Institutions and Bodies constituted for the Protection and Betterment of these Vulnerable Sections.
Syllabus mapping
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