Pradhan Mantri Shram Yogi Maan-Dhan Yojana: Launch, Eligibility
The Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) is a government scheme providing social security for unorganised workers. It offers a monthly pension after retirement.
Source: GNews PM SchemeThe Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) was launched by the Ministry of Labour and Employment. This voluntary and contributory pension scheme aims to provide social security to unorganised workers in India. It was officially launched on February 15, 2019, from Gandhinagar, Gujarat. Under the Pradhan Mantri Shram Yogi Maan-Dhan Yojana, beneficiaries receive a minimum assured pension of Rs. 3,000 per month after attaining the age of 60 years. The scheme is implemented through the Life Insurance Corporation of India (LIC) and CSC e-Governance Services India Limited (CSC SPV). Eligible individuals must be unorganised workers aged between 18 and 40 years, with a monthly income of Rs. 15,000 or less. They should not be covered by the National Pension Scheme (NPS), Employees State Insurance Corporation (ESIC) scheme, or Employees Provident Fund Organisation (EPFO).
This scheme is crucial for UPSC and SSC exams under Government Schemes and Social Security. Aspirants should understand its objectives, target beneficiaries, and implementation details. Questions often focus on the launch date, eligibility criteria, and the minimum pension amount, linking to topics like welfare initiatives and inclusive growth in the Indian Economy section.
- Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) launched on February 15, 2019.
- The scheme provides a minimum assured pension of Rs. 3,000 per month.
- Beneficiaries receive pension after attaining the age of 60 years.
- Eligible age group for enrollment is 18 to 40 years.
- Monthly income limit for eligibility is Rs. 15,000 or less.
- Implemented by the Ministry of Labour and Employment.
A voluntary and contributory pension scheme for unorganised workers. It ensures a minimum assured pension of Rs. 3,000 per month after the age of 60. The scheme aims to provide financial security and social protection to those working in the informal sector.
An individual who works in the unorganised sector and is not covered by any formal social security schemes like EPFO, ESIC, or NPS. This includes street vendors, agricultural labourers, construction workers, domestic workers, and many others.
A statutory corporation established in 1956, headquartered in Mumbai. It is India's largest state-owned life insurance company and plays a key role in implementing various government social security schemes, including PM-SYM.
Exams frequently test the launch year, target group, and key benefits (like pension amount) of major government social security schemes. Pay attention to the implementing ministry and eligibility criteria.
PM-SYM: 'Shram Yogi' means 'Labourer's Yogi' helping workers achieve 'Maan-Dhan' (respectful wealth) in old age. Think 'SYM' for 'SYstem for Maan-Dhan'.
Frequently Asked Questions
What is the Pradhan Mantri Shram Yogi Maan-Dhan Yojana?
The Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) is a government pension scheme for unorganised workers. It provides a minimum assured pension of Rs. 3,000 per month after the age of 60, with beneficiaries making regular contributions during their working years.
Who is eligible for the PM-SYM scheme?
Eligibility for PM-SYM includes unorganised workers aged 18-40 years with a monthly income of Rs. 15,000 or less. They must not be covered under NPS, ESIC, or EPFO schemes. Indian citizens are eligible to apply.
When was the Pradhan Mantri Shram Yogi Maan-Dhan Yojana launched?
The Pradhan Mantri Shram Yogi Maan-Dhan Yojana was officially launched on February 15, 2019. It was introduced to provide social security and old age protection to millions of unorganised sector workers across India.