Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM), which was launched in 2019 by the Ministry of Labor and Employment, allows married couples to earn an annual pension of Rs 72,000 by investing Rs 200 per month.

Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM)

What is Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) Scheme?

The unorganized workers are mostly 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, and agricultural workers. is employed as. , construction workers, beedi workers, handloom workers, leather workers, audio-visual workers, and other similar occupations with a monthly income of Rs 15,000 per month or less.

They should not be covered by the New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC), or Employees’ Provident Fund Organization (EPFO) (EPFO). Also, he should not be a taxpayer.

What are the salient features of Pradhan Mantri Shram Yogi Maan-Dhan Yojana?

Pension Guaranteed Minimum: After reaching 60 years of age, every PM-SYM subscriber is entitled to a minimum assured pension of Rs 3000 per month.

Family Pension: If the subscriber dies while receiving the pension, the beneficiary’s wife is entitled to 50% of the pension received by the beneficiary as a family pension. Only the spouse is eligible for a family pension.

How do you sign up for Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) Yojana?

The customer should have a mobile phone, a savings bank account and an Aadhaar number. Based on self-certification, eligible customers can visit their nearest CSC and enrol in PM-SYM using their Aadhaar number and Savings Bank Account/Jan-Dhan Account Number.

How can married couples get an annual pension of Rs 72,000 under the Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) scheme?
To show how a couple can earn Rs 72,000 in annual pension, here is a simple calculation. For example, if a person is 30 years old, the monthly contribution to the plans is around Rs 100 per month – thus a couple spends Rs 200 per month. Consequently, while the individual contribution is Rs 1200 per annum, after 60 years, the individual will receive Rs 36,000 as a pension (an annual pension of Rs 72,000 for a couple).