Centre registers nearly 46 lakh unorganised workers under PM-SYM pension scheme

The Union Ministry of Labour and Employment informed on Thursday that a total of 45,77,295 unorganised workers have been registered under Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme, as on November 25, 2021. In the state of Uttar Pradesh, a total of 6,36,275 workers of the unorganised sector have been enrolled under the PM-SYM pension scheme till November 25, the ministry added. 

The Labour and Employment ministry stated, "In order to provide old age protection in the form of a monthly pension, the Government of India launched the PM-SYM pension scheme in the year 2019. Under this scheme, a minimum assured monthly pension of Rs. 3000 will be provided to the unorganised workers after attaining the age of 60 years."

PM-SYM pension scheme benefits for under 40

If a person starts this scheme from the age of 40, then he/she will have to deposit Rs 200 every month. After the age of 60, they will start receiving the pension. Under the scheme, one will get a pension of Rs 3,000 per month, that is Rs 36,000 per year after completion of 60 years.

To enjoy the benefits of the scheme, one must have a savings bank account and an Aadhaar card. The age of the person should not be less than 18 years and not more than 40 years. For this, one will have to register for the scheme at the Common Service Center (CSC). The government has also created a web portal for this scheme. Through these centres, all the information online will sent to the Government of India.

What is the PM-SYM pension scheme?

The Government of India has introduced a pension scheme for unorganised workers namely PM-SYM to ensure old age protection for Unorganised Workers. The unorganised workers mostly engaged as home-based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio-visual workers and similar other occupations whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Further, he/she should not be an income tax payer.

(With Agency Inputs)

Image: PTI