Updated By: LatestGKGS Desk
PM-SYM: PM Shram Yogi Maan-dhan, 3000rs per month pension Scheme, Features
Workers to get 3000 rupees per month under Pradhan Mantri Shram Yogi Maan-Dhan Yojana
The government of India has launched a scheme under which the beneficiary will get 3000 rupees per month as pension in their old age.
Who will get these Benefits :
Unorganized employees are primarily working as domestic workers, street sellers, middle-day food workers, chief loaders, brick kiln workers, cobblers, pickers, housekeepers, washing men, rickshaw pullers, landless workers, self-account workers, field farmers, workers, beetles workers, handloom farmers and leather workers, and so on, audiovisual staff and the like, whose monthly salary is Rs 15,000 / month or below and belongs to 18-40 years of age.
Many of the Common Service Centers(CSC) will register the beneficiary. Unorganized employees will visit their nearest CSC with their passbook / Jandhan account on Aadhar Card and Savings Bank and register for the Scheme. The first month's donation payment is paid in cash for which a receipt is issued.
The scheme:-
According to the scheme, The beneficiary will have to pay very low money according to their age category and the same amount will also be paid by the government of India in their pension account. The government will participate and provide half of its funds deposited in the account of the beneficiary. Let's assume if the beneficiary is of age 29 then he will have to pay rupees 100 per month and another 100rs will be paid by Government in the account of the beneficiary as pension that will be withdrawable after the age of 60.
Exit and Withdrawal:
If any beneficiary wants to exit the scheme and wants to return back his/her money, then following are the rules for Exit and withdrawal:-
- When, within a span of less than 10 years, the participant leaves the plan, the donation share of the beneficial shareholder can then be transferred to the recipient through a savings bank charge.
- If a customer leaves after 10 years or more, i.e. before age 60, a share of the recipient with the accrued interest received by the fund or by the interest rate of the savings bank, whichever is greater, is the same.
- If a recipient has consistently invested and dies on any grounder, the recipient's spouse is entitled to maintain the scheme by paying the monthly fee or can withdrawal along with the accrued interest already received in that fund, or by earning the recipient's saving bank interest rate, whichever is higher.
- Where a beneficiary has made frequent donations and has been chronically disabled because of whatever reason until the age of the superannuation, i.e. 60 years, and is not eligible to continue participating in compliance with the policy, his / her partner will instead receive the value of the receiver with the income received in the future by making a monthly donation or leaving it.
- The entire pool is paid back to the fund after the death of the client and his / her partner.
- Any other exit clause, as the government may agree upon NSSB 's advice.
To address any grievances related to the scheme, subscriber can contact at customer care number 1800 267 6888 which will be available on 24*7 basis(to be effective from 15 Febraury 2019). Web portal/ app will also have the facility for registering the complaints.
PM-SYM will be a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and CSC eGovernance Services India Limited (CSC SPV). LIC will be the Pension Fund Manager and responsible for Pension pay out.
