PM Shram Yogi Maan-dhan (PM-SYM) — ₹3,000 Monthly Pension
PM Shram Yogi Maan-dhan is a pension scheme for unorganized workers like laborers, maids, and drivers. Get a guaranteed ₹3,000 monthly pension after age 60.
Ministry: Ministry of Labour and Employment
Quick Summary
PM-SYM at a Glance: A voluntary pension scheme for workers in the unorganized sector. Monthly contribution ranges from ₹55 to ₹200 (government contributes an equal amount). Guaranteed ₹3,000 monthly pension after age 60. Family pension (50%) for the spouse in case of the subscriber's death.
The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a flagship pension scheme designed to provide old-age security to over 40 crore workers in India's unorganized sector. From street vendors to domestic helpers, this scheme ensures that those who serve the nation through hard labor have a dignified life in their senior years.
What is PM-SYM?#
PM-SYM is a "contributory" pension scheme. This means you pay a small amount every month until you reach age 60, and the Government of India adds the exact same amount to your pension account. For example, if you contribute ₹100, the government also contributes ₹100, totaling ₹200 towards your pension fund.
Who is Eligible?#
To join this scheme, you must meet the following criteria:
- Occupation: Must be an unorganized worker (e.g., home-based workers, street vendors, midday meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, rickshaw pullers, landless laborers, etc.).
- Age: Entry age must be between 18 and 40 years.
- Income: Monthly income should be ₹15,000 or less.
- Exclusions:
- Should NOT be an income tax payer.
- Should NOT be covered under NPS (Govt. funded), ESIC, or EPFO.
Key Benefits#
- Assured Pension: A fixed monthly pension of ₹3,000 after you turn 60.
- Family Pension: If the pensioner dies, the spouse (husband or wife) will receive ₹1,500/month (50% of the pension) as a family pension.
- Matching Contribution: The Central Government pays an equal share of your monthly contribution.
- Ease of Exit: If you decide to leave the scheme before 10 years, you get your contribution back with savings bank interest. After 10 years, you get higher interest.
- Death before 60: If the subscriber dies during the contribution period, the spouse can continue the scheme or exit by receiving the total amount with interest.
Contribution Table (Monthly)#
The amount you pay depends on the age you join the scheme:
| Entry Age | Subscriber's Share (₹) | Govt Share (₹) | Total Monthly (₹) |
|---|---|---|---|
| 18 Years | ₹55 | ₹55 | ₹110 |
| 25 Years | ₹80 | ₹80 | ₹160 |
| 30 Years | ₹105 | ₹105 | ₹210 |
| 35 Years | ₹150 | ₹150 | ₹300 |
| 40 Years | ₹200 | ₹200 | ₹400 |
Documents Required#
- Aadhaar Card
- Savings Bank Account or Jan Dhan Account with IFSC code.
- Mobile Number
How to Apply#
The enrollment process is simple and technology-driven:
Step 1: Visit a CSC
Go to your nearest Common Service Centre (CSC) or Jan Seva Kendra. You can find one at locator.csccloud.in.
Step 2: Documentation
Provide your Aadhaar card and Bank details to the CSC operator.
Step 3: Calculation & Consent
The operator will calculate your monthly contribution based on your age. You will need to sign a "Consent Form" for auto-debit from your bank account.
Step 4: First Payment
Pay the first month's contribution in cash to the CSC operator.
Step 5: Receive Card
The operator will generate a unique Shram Yogi Pension Number and give you a printed Shram Yogi Card.
Self-Enrollment: You can also register yourself on the portal maandhan.in if you are comfortable with online forms and OTP verification.
Frequently Asked Questions#
1. What happens if I stop paying my monthly contribution? If you miss a payment, you can regularize your account by paying the outstanding dues along with a small interest/penalty as decided by the government.
2. Is there any nomination facility? The scheme primarily benefits the subscriber and their spouse. Only the spouse is entitled to a family pension. Children are not eligible for a family pension under this specific scheme.
3. Can I have both PM-SYM and Atal Pension Yojana (APY)? Generally, these schemes target similar groups. It is advisable to choose one. However, check latest guidelines as dual benefits in central schemes are often restricted.
4. What is the "Shram Yogi Card"? It is a card containing your personal details and a unique pension account number (SPAN). It serves as proof of your enrollment in the scheme.
5. How is the pension amount paid? Once you reach age 60, the pension of ₹3,000 will be automatically credited to your linked bank account every month.