Contribution of a Subscriber Under PM-SYM Yojana
- Depending on the age group to which the subscriber belongs, the needed contribution ranges from Rs. 55 to Rs. 200.
- The subscriber’s contributions to PM-SYM must be made using the “auto-debit” feature from his or her savings bank account or Jan-Dhan account.
- In this scheme, the beneficiary will make the required age-specific contribution and the Central Government will match it on a “50:50 basis.”
Pradhan Mantri Shram Yogi Maan-Dhan Yojana
In February 2019, Prime Minister Narendra Modi launched Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) under the Ministry of Labour and Employment. It was launched in Vastral, Gujarat. The largest pension scheme in the world is PM-SYM. Pradhan Mantri Shram Yogi Maan-Dhan is a central sector initiative to protect the aged and provide social security to unorganized workers (UW). This initiative aims to help around 42 crore workers in the unorganized sector of the country.
The initiative is aimed to help workers in the unorganized sector, such as street vendors, rickshaw pullers, agricultural laborers, mid-day meal workers, construction workers, and others. After attaining the age of 60, the beneficiary would be entitled to an assured monthly pension of Rs 3000/- per month, After the beneficiary’s death, half of the pension is paid to the beneficiary’s spouse as a family pension.