Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Scheme
The Government of India has launched the Pradhan Mantri Shram Yogi Maandhan (PM-SYM), a pension scheme aimed at providing old age financial security to unorganised sector workers. The initiative encourages workers to save for retirement, ensuring a minimum guaranteed pension after the age of 60.
What is PM-SYM?
PM-SYM is a voluntary and contributory pension scheme for unorganised workers who have a monthly income of Rs. 15,000 or less and are not income tax payers. The scheme offers a guaranteed pension of Rs. 3,000 per month after the age of 60, with a matching contribution from the Government of India.
Who Can Apply?
This scheme is designed for unorganised sector workers, including but not limited to:
- Street vendors, mid-day meal workers, domestic workers
- Agricultural and landless labourers, construction workers
- Rickshaw pullers, cobblers, washermen, rag pickers
- Beedi workers, handloom and leather workers
- Home-based workers, audio-visual workers, and more
Key Features of the PM-SYM Scheme
- ✅ Minimum Assured Pension: Receive ₹3,000/month after the age of 60.
- ✅ Government Contribution: Equal contribution from the Government matching the subscriber’s amount.
- ✅ Family Pension: In case of the subscriber’s death, the spouse receives 50% of the pension.
- ✅ Flexible Exit Rules: Exit and withdrawal permitted with refund of contributions under specific conditions.
- ✅ Spouse Continuation: In the event of death before 60, the spouse may continue the scheme or withdraw.
Monthly Contribution Details
The subscriber’s contribution is age-based:
- ₹55/month if joining at 18 years
- ₹100/month if joining at 29 years
- ₹200/month if joining at 40 years
The government contributes an equal amount to the subscriber’s pension account.
Eligibility Criteria for PM-SYM
To enrol under the scheme, the worker must:
- Be 18 to 40 years of age
- Have a monthly income below ₹15,000
- Not be an income tax payer
- Not be a member of EPFO, ESIC or NPS
- Possess a valid Aadhaar number
- Have a savings bank account
Exit and Withdrawal Provisions
- ❖ If the subscriber exits before 10 years, only the worker’s contribution is returned with savings bank interest.
- ❖ If the subscriber exits after 10 years but before 60, the total contribution with interest is returned.
- ❖ In case of permanent disability, the spouse may continue or withdraw the scheme.
- ❖ On subscriber’s death, the spouse may continue with contributions or exit and claim benefits.
Why PM-SYM is Important
Millions of Indians work in the unorganised sector without access to retirement benefits. PM-SYM bridges this gap, offering social security and dignity during old age. It empowers workers to secure their future with minimal monthly contributions.
How to Enrol
- Visit the nearest Common Service Centre (CSC)
- Carry your Aadhaar Card and Savings Bank details
- Complete biometric authentication
- Pay the first contribution in cash
- Receive enrolment details and a pension card
Need Help With Registration?
You can get free assistance at your nearest GST Suvidha Centre. Our team is trained to help you enrol under PM-SYM and resolve any issues regarding your pension benefits.
Frequently Asked Questions (FAQs)
Q1. Can I enrol if I already have an EPF account?
No, the scheme is only for unorganised workers who are not members of EPF, ESIC, or NPS.
Q2. Is the pension amount guaranteed?
Yes, a minimum assured pension of ₹3,000/month is guaranteed under this scheme.
Q3. Can my spouse receive benefits after my death?
Yes, your spouse will be eligible for 50% of the pension as family pension.
Popular Search Terms Related to PM-SYM
- PM-SYM Pension Scheme registration
- Pension scheme for unorganised workers in India
- How to apply for Pradhan Mantri Shram Yogi Maandhan Yojana
- PM-SYM eligibility and documents required
- Monthly contribution chart for PM-SYM
Required Documents
- Aadhar Card
- Savings bank account/ Jan-Dhan Account with IFSC
- A valid mobile number.
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