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PM-SYM (Pradhan Mantri Shram Yogi Maan-Dhan), 2020

What will you go to learn from this article, PM-SYM, 2020

  1. What is Pradhan Mantri Shram Yogi Maan-Dhan Yojna (PM-SYM)?

  2. Features of Pradhan Mantri Shram Yogi Maan-Dhan Yojna (PM-SYM)

  3. Scheme Eligibility for Pradhan Mantri Shram Yogi Maan-Dhan Yojna (PM-SYM)

  4. How to  Apply Pradhan Mantri Shram Yogi Maan­ Dhan Yojna (PM-SYM)?

Below is a brief description of PM-SYM, which is one of our services-Pradhan Mantri Shram Yogi Maan-Dhan Yojna (PM-SYM).

The government of India has introduced a pension scheme for an unorganized worker to ensure old-age protection.

The idea is to let workers save towards retirement.

The workers in the unorganized sector with a monthly income of up to Rs 15,000 will get a pension of Rs. 3000 from the retirement age...

The subscriber will have to pay a small amount of contribution during their working age. He/she should not be an income taxpayer.

The unorganized workers mostly engaged as home-based workers, street vendors, day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, rickshaw pullers, landless laborers, own-account workers, agricultural workers, construction by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.


  • The monthly contribution by the worker joining the scheme would be Rs 55, with matching contributions from the government.

  • The contributions would rise at a higher age. The worker joining the scheme at the age of 40 years would contribute Rs 200, while workers at the age of 29 years would pay Rs 100.

  • The unorganized sector worker who wishes to join the scheme shall be not less than 18 years of age and not exceeding 40 years, the notification said. The worker should also have a savings bank account in his/her name and an Aadhaar.

  • The scheme also provides that if a subscriber has given regular contributions and died due to any cause, his spouse shall be entitled to continue with the scheme subsequently by payment of regular contribution.

  • The spouse can also exit the scheme by receiving the share of contribution paid by the deceased subscribers along with accumulated interest.

  • In case of permanent disablement of a subscriber, his or her spouse will be entitled to continue with the scheme or exit by receiving the share of contribution, with interest.

  • In case of the death of a pensioner, his or her spouse shall be only entitled to receive 50 percent of the pension.

  • In case the subscriber exits the scheme within a period of fewer than 10 years, the beneficiary's share of contribution only will be returned to him with a savings bank interest rate.

  • If the subscriber exits after a period of 10 years or more but before superannuation age i.e. 60 years of age, the beneficiary's share of contribution along with accumulated interest as actually earned by the fund or at the savings bank interest rate whichever is higher.

  • If a subscriber has not paid the contribution continuously he/she will be allowed to regularize his contribution by paying entire outstanding dues, along with penalty charges, if any, decided by the Government.


Below are the eligibility of the PM-SYM Yojana
  • Must be 18-40 years of age group.

  • Monthly Income less than Rs 15000 per month.

  • Not an Income tax payee.

  • Should not be working in the Organized Sector with a membership of EPF/NPS/ESIC.

  • Must have a Savings Bank Account.

  • Should have Aadhar Number.


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