Pradhan Mantri Shram Yogi Maandhan Yojna: Invest Rs 200 per month to get Rs 36,000 pension yearly --Check calculation

New Delhi: The Narendra Modi Government has introduced a pension scheme for unorganized workers called the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganized Workers. It is a voluntary and contributory pension scheme under which the beneficiary would receive a minimum assured pension of Rs 3000 per month after attaining the age of 60 years and if the beneficiary dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension as family pension.

The Pradhan Mantri Shram Yogi Maandhan Yojana (PM Shram Yogi Maandhan Yojana) is a fantastic scheme for unorganised sector workers. Street sellers, rickshaw drivers, construction workers, and others in the unorganised sector will be helped to plan for their retirement.

Pradhan Mantri Shram Yogi Maan-dhan Yojna: How to get Rs 36,000 per year by paying Rs 200 monthly

Subscriber needs to contribute in the range of Rs. 55 - Rs. 200, depending on the entry age specific monthly contribution. Under this scheme, the government guarantees the labourers of Rs 36,000 per year. If a person begins this scheme at the age of 40, he will be required to make monthly deposits of Rs 200. After 60 years of age, you will be eligible for a pension. After 60 years, you would receive a monthly pension of Rs 3000 or Rs 36,000 per year. 

Eligibility Criteria for Pradhan Mantri Shram Yogi Maan-dhan Yojna

To become eligible to avail benefits of the PM-SYM Yojana, a person should be:

An unorganised worker

Entry age between 18 and 40 years

Monthly Income Rs 15000 or below

Should not be:

engaged in Organized Sector or with membership of EPF/NPS/ESIC

an income tax payer

Documents required for Pradhan Mantri Shram Yogi Maan-dhan Yojna

1. Aadhaar card

2. Savings Bank Account / Jan Dhan account number with IFSC

The subscriber’s contributions to PMSYM shall be made through ‘autodebit’ facility from his/ her savings bank account/ Jan- Dhan account. The subscriber is required to contribute the prescribed contribution amount from the age of joining PM-SYM till the age of 60 years.