PM-SYM: What is the Pradhan Mantri Shram Yogi Maandhan Yojana? Learn how to receive a pension of ₹3,000 in your old age..

Pradhan Mantri Shram Yogi Maandhan Yojana: Millions of people across the country work in the unorganized sector, where they receive neither a fixed pension nor financial security for their old age. To provide financial security to such individuals after retirement, the Central Government has launched the Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM). Under this scheme, eligible workers receive an assured monthly pension of ₹3,000 after attaining the age of 60. With the help of this scheme, individuals such as street vendors, laborers, and domestic workers will also be able to receive a pension after retirement, just like salaried employees do. Let us explore the benefits of this scheme, who is eligible to apply, and other essential details...

How does the Pradhan Mantri Shram Yogi Maandhan Yojana provide benefits?
Workers enrolled in this scheme receive a monthly pension of ₹3,000 upon completing 60 years of age. To avail of this benefit, you are required to contribute a small monthly amount during your working years, in exchange for which you receive the pension after retirement.

Who can apply for the scheme?
To enroll in the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme, it is mandatory to fulfill certain essential conditions.

Only individuals aged between 18 and 40 years are eligible to avail themselves of the benefits of this scheme.
This scheme is available to those whose monthly income is ₹15,000 or less.
Furthermore, the applicant must not already be enrolled in the EPF (Employees' Provident Fund), ESIC (Employees' State Insurance Corporation), or NPS (National Pension System).

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