Pradhan Mantri Shram YogiMaandhan - PMSYM

PMSYM Services Description Pradhan Mantri Shram Yogi Maandhan (PMSYM)

Pradhan Mantri Shram Yogi Maandhan (PMSYM) is a voluntary and contributory pension scheme launched by the Government of India for unorganised sector workers. It aims to provide social security to workers such as street vendors, rickshaw pullers, construction workers, domestic workers, and similar occupations.

Key Features

• Pension of ₹3,000 per month after the age of 60 years.
• Monthly contribution ranging from ₹55 to ₹200, depending on the enrollee's age.
• Central Government will contribute an equal matching amount to the subscriber’s pension account.
• Subscribers will receive a pension through LIC-managed pension funds.

Eligibility Criteria

• Unorganised workers between the ages of 18 and 40 years.
• Monthly income of ₹15,000 or less.
• Must possess an Aadhaar card and a bank account linked with Aadhaar.
• Should not be a member of EPFO, ESIC, or NPS and should not be an income tax payer.

Documents Required

• Aadhaar card
• Bank passbook or account details (with IFSC)
• Mobile number

Enrollment Process

Visit the nearest Common Service Center (CSC) or register through an authorized agent/portal.

Provide Aadhaar and bank details.

Initial contribution will be calculated based on age.

Subscriber will receive a PMSYM card and acknowledgment slip.

Benefits of PMSYM

• Government-backed pension security.
• Family pension: In case of the subscriber’s death, the spouse receives 50% of the pension.
• Ease of enrollment through digital platforms and CSCs.

Note: The scheme is managed by the Ministry of Labour and Employment, Government of India. LIC acts as the pension fund manager and is responsible for disbursement of monthly pensions.

Support & Contact

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