How to apply for PM Shram Yogi Maan-dhan Pension Scheme?

How to apply for PM Shram Yogi Maan-dhan Pension SchemeHow to apply for PM Shram Yogi Maan-dhan Pension Scheme?

In order to ensure old age protection for the unorganized working sector, a new pension scheme was declared in the interim budget, 2019 named Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Pension Scheme. PM-SYM is a voluntary and a contributory pension scheme for the unorganized working sector who can get minimum Rs 3,000 monthly pension. What is PM Shram Yogi Maan-dhan (PM-SYM) Pension Scheme? Who is eligible for PM-SYM Pension Scheme? How to apply for PM Shram Yogi Maan-dhan Pension Scheme?

What is PM Shram Yogi Maan-dhan (PM-SYM) Pension Scheme?

The unorganized sector basically includes home-based workers, cobblers, head loaders, washer men, construction workers, rickshaw pullers, rag pickers, agricultural workers etc., whose monthly income is Rs. 15,000 or less and belong to the age group of 18-40 years.

PM-SYM is a voluntary and a contributory pension scheme launched for the unorganized working sector under which the subscriber will get a minimum of Rs 3,000 monthly pension after the age of 60 years. The subscriber has to contribute an age-specific amount as per the prescribed chart and the matching contribution will be made by the Central Government. The scheme has the provision that along with the individual contribution, the government will contribute the same amount to the individual’s account.

Features of the PM Shram Yogi Maan-dhan (PM-SYM) Pension Scheme

Each subscriber shall receive a minimum of Rs 3,000 per month as assured pension after attaining the age of 60 years.

During the receipt of the pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension as the family pension. Family pension is applicable only to a spouse.

If the beneficiary is a regular contributor and dies before 60 years of age due to any cause, his/her spouse is entitled to join and continue the same scheme with payment of regular contribution or exit the scheme as per the provisions.

Who is eligible for PM-SYM Pension Scheme?

The following is the eligibility criteria for PM-SYM pension scheme:

1) An individual worker from the unorganized sector.

2) The age of an individual must be between 18 -40years.

3) The monthly income should not exceed Rs. 15,000.

4) They should not be covered under the New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organization (EPFO).

5) Should not be an income tax payer.

What documents are required to apply PM-SYM Pension Scheme?

The documents that are required to apply for the scheme are:

1) Aadhar Card

2) Savings Bank Account or Jan-Dhan account with IFSC

3) A valid mobile number

How much amount you can contribute to this pension scheme?

The amount of contribution will depend upon the age of the subscriber. The minimum amount of contribution is Rs 55 which is to be contributed when the age of the subscriber is 18 years. As the age progresses, the amount of contribution goes on increasing. However, the maximum amount of contribution is Rs. 200 which is to be paid if the subscriber enrolls himself/herself at the age of 40. The contribution amount remains the same throughout the period of subscription. For example, if an individual enrolls himself in the scheme at the age of 30, the contribution amount is Rs. 105 at this age. So, he is required to contribute Rs. 105 monthly from now till the age of 60 years. The amount will be debited directly from the savings account on a monthly basis except for the first subscription amount. It has to be paid in cash. This is not single premium plan like LIC Jeevan Shanti Pension plan.

How to apply for PM- SYM Pension Scheme?

For the application of opening an account under PM-SYM scheme, one is required to visit the nearest Common Services Center (CSC) along with the necessary documents (Aadhar card, passbook of bank account) and mobile phone. Please ensure that the IFSC code is printed on the savings account passbook.

At the CSC, you will be required to submit the self-certified form along with the consent form of an auto-debit facility. These two forms are available at the CSC office. The contribution amount for the first month shall be paid in cash for which a receipt will also be provided. The attendant at the CSC will fill the form based on the details on the Aadhar card and passbook of the bank account. Once you verify the details, an OTP (one-time password) will be sent your mobile number. On giving this OTP, you will be enrolled for the scheme. An online pension number is generated and CSC center will give you a print out of the pension scheme card. The pension scheme card will contain the information like name, pension start date, monthly contribution amount, pension account number etc.

In order to know about the nearest CSC, one can visit the EPF India website or visit the branch office of LIC, ESIC, EPFO, labor offices of Central and State Government.

You can check more about this scheme at this link. 

Conclusion: Keeping in mind the pathetic condition of these unorganized workers, the Government has come forward with an excellent pension scheme to secure their old age. Now, they need to inform and educate this segment through advertisements, word of mouth and other means so that more and more people are associated and benefitted under this scheme.

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How to apply for PM Shram Yogi Maan-dhan Pension Scheme

Suresh KP


  1. I think this scheme is not for poor it’s just for the government for money

    What’s would b the value of RS 3000 after 30 years you can expect

    After I dependence we are still not able to give poor class basic minimum pay/pension to all court poor citizen without any contribution and also that’s has. To start after 30 years

    And one more thing kindly stop the subsidy of mp canteen in lokhsabha
    Taxed the mp salary why not tax on thierincome
    All people are equal to our constitution .
    if modi is loyal to country …

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