Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Yojana: Rs 55 per month can secure Rs 3,000 pension

Key facts

• Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Yojana is a voluntary, contributory pension programme for unorganised sector workers aged 18-40 years with monthly income below Rs 15,000.
• Subscribers contribute monthly amounts ranging from Rs 55 (entry at 18 years) to Rs 200 (entry at 40 years) until age 60 to receive a minimum monthly pension of Rs 3,000.
• The government matches the subscriber’s monthly contribution and provides a family pension equal to half of the pension to the spouse after the subscriber’s death.
• Workers covered under National Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme, Employees’ Provident Fund Organisation (EPFO) scheme, or income-tax payees are not eligible.
• Enrolment is facilitated through Common Service Centres (CSCs) across India using Aadhaar and savings bank account details.