It is worth noting that the Pradhan Mantri Shram Yogi Maandhan Yojana is a scheme launched by the Government of India for workers in the unorganized sector. Under the Shram Yogi Maandhan Yojana (PM-SYM), such workers are provided with a regular monthly pension after attaining the age of 60.
Beneficiaries can check the balance and status of their Pradhan Mantri Shram Yogi Maandhan Yojana account through the UMANG app. To contribute to the scheme, a beneficiary must be between 18 and 40 years of age. Stay tuned until the end to learn everything about this scheme.
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What is the Pradhan Mantri Shram Yogi Maandhan Yojana?
The Pradhan Mantri Shram Yogi Maandhan Yojana is a social security scheme launched by the Government of India in 2020. The objective of the Pradhan Mantri Shram Yogi Maandhan Yojana is to provide financial assistance to workers in the unorganized sector during their old age.
Under this scheme, beneficiaries make a monthly contribution ranging from ₹55 to ₹200, and a monthly pension begins to be disbursed once they attain the age of 60. Under the PMSYMY scheme, the government contributes an amount equal to the contribution made by the beneficiary. Subsequently, the government provides a pension amount of ₹3,000.
Benefits of the Pradhan Mantri Shram Yogi Maandhan Yojana
The Pradhan Mantri Shram Yogi Maandhan Yojana offers the following benefits, as outlined below:
Pension Amount – Upon attaining the age of 60 years, the beneficiary is provided with a monthly pension of ₹3,000.
Flexible Contribution – The beneficiary contributes to the scheme until the age of 60 years; the contribution amount ranges from ₹55 to ₹200. The specific contribution amount depends on the beneficiary’s current age.
Government Contribution – The government contributes an amount equal to the contribution made by the beneficiary.
Death Benefit – In the event of the beneficiary’s death, their spouse will receive 50% of the basic pension amount as a family pension.
In Case of Disability – In the event of permanent disability occurring before the age of 60 years, the spouse may continue to make regular contributions to the account.
Pradhan Mantri Shram Yogi Maandhan Yojana Contribution Details
The details regarding contributions to the PMSYMY are as follows:
- Contributions to the Pradhan Mantri Shram Yogi Maandhan Yojana are required to be made until the age of 60.
- The contribution amount ranges from ₹55 to ₹200; the specific contribution amount depends on the subscriber’s current age.
- The contribution amount will be automatically debited every month from the subscriber’s bank savings account or Jan Dhan account; the applicant’s consent for this will be obtained at the time of application.
- However, contributions may be made on a monthly, quarterly, half-yearly, or annual basis.
Pradhan Mantri Shram Yogi Maandhan Yojana Eligibility
The eligibility criteria for the Pradhan Mantri Shram Yogi Maandhan Yojana are outlined below:
- It is mandatory for the applicant to belong to the unorganized sector.
- At the time of application, the applicant’s age must be between 18 and 40 years.
- The applicant’s monthly income must not exceed ₹15,000.
- If the beneficiary is a member of any other government social security scheme—such as NPS, EPS, or ESIC—they will not be considered eligible for this scheme.
How to Apply for the Pradhan Mantri Shram Yogi Maandhan Yojana?
Employees in the unorganized sector should follow this procedure to apply for the Pradhan Mantri Shram Yogi Maandhan Yojana:
- The applicant should visit their nearest Jan Seva Kendra (Common Service Center).
- There, they must provide all necessary details, such as savings account information (passbook, IFSC code) and their Aadhaar card number.
- The applicant must deposit the initial contribution amount with the operator (VLE) present at the Jan Seva Kendra.
- To authenticate the applicant, the operator will require their Aadhaar card, name, and date of birth.
- Following authentication, the CSC operator will enter the applicant’s mobile number, email address, spouse’s details, bank account details, and nominee information to complete the registration process.
- Once registered, the applicant will be informed of the monthly contribution amount.
- The applicant is required to sign the enrollment form, which is then printed, scanned, and uploaded by the VLE.
- The operator will issue a Shram Yogi Maandhan Card and a SPAN number to the applicant.
How to Check Your Pradhan Mantri Shram Yogi Maandhan Yojana Balance?
The PM-SYM balance can be checked through various methods, as outlined below:
Via the Maandhan Portal:
Visit the official website of the Pradhan Mantri Shram Yogi Maandhan Yojana at maandhan.in.
Log in to your subscriber account.
After logging in, click on the ‘View Your Statement’ or ‘Download Statement’ option. This statement will contain all the details regarding your Shram Yogi Maandhan Yojana account.
Via the UMANG App:
Download the UMANG application on your mobile phone and launch the app.
Once the app is open, search for “Pradhan Mantri Shram Yogi Maandhan Yojana.”
Within the UMANG app, an option to view your statement under the PM-SYM scheme will be available.
Via the Toll-Free Helpline Number:
Call the PM-SYM toll-free number at 1800 267 6888.
Follow the instructions provided during the call to check your balance, status, and other details.
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FAQs
How much pension is provided under the Pradhan Mantri Shram Yogi Maandhan Yojana?
If you are wondering how you can receive a pension of ₹3,000, the Pradhan Mantri Shram Yogi Maandhan Yojana has fixed the pension amount at ₹3,000. As such, this can prove to be a suitable investment option.
How do you check the balance in a PMSYMY account?
The account balance can be checked through the official Maandhan website: maandhan.in.
Which other pension schemes have been launched for employees in the unorganized sector?
In addition to the Pradhan Mantri Shram Yogi Maandhan Yojana, the Atal Pension Yojana is also available in India to provide pension support to employees in the unorganized sector during their old age.