Pradhan Mantri Shram Yogi Maan-dhan Yojana

Pradhan MantriShram Yogi Maan-dhan is an initiative by the central government designed to protect the elderly and the social security of Unorganised Workers (UW).

The Unorganised workers (UW) tend to be street vendors, rickshaw pullers, and mid-day meal workers. Heads loaders, brick-kiln builders, cobblers, rag pickers, domestic workers, washermen, and home-based workers. They also work as own-account workers, agricultural workers, builders, construction workers who weave, leatherworkers, audio-visual workers, or similar occupations. There is an estimated 42 crore of these unorganized workers across the country.

National Pension Scheme for Traders and The Self-employed Persons (NPS)

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Pradhan Mantri Jeevan Jyoti Yojana (PMJJBY)

Eligibility Criteria

  • Should be an unorganised worker (UW)
  • To view the list of professions covered, click here
  • Entry age between 18 and 40 years
  • Monthly Income Rs 15000 or below

Should not be

  • engaged in Organized Sector (membership of EPF/NPS/ESIC)
  • an income tax payer

He/ She should possess

  • Aadhar card
  • Savings Bank Account / Jan Dhan account number with IFSC

Features Pradhan Mantri Shram Yogi Maan-dhan

It is a non-voting and contributory pension scheme under which the subscriber will receive an assured minimum pension of 3000 rupees monthly after reaching the age of sixty, and in the event of the subscriber’s death in the course of their lives, his spouse would be entitled to 50 percent of the pension in the form of family pension. Family pension is only available to spouses.

Contribution from the UW Subscriber: Through the auto-debit feature from their savings bank account/Jan- Dhan account starting from the date of joining PM-SYM up to when they reach the age of 60, as indicated in the table below. It is also possible to contribute through the Central Government will also give an equal match to the pension account of the subscriber.

ntry AgeSuperannuation AgeMember’s  monthly contribution (Rs)Central Govt’s  monthly contribution (Rs)Total monthly contribution  (Rs)
(1)(2)(3)(4)(5)= (3)+(4)
Pradhan Mantri Shram Yogi Maan-dhan

Enrolment Process

For self enrollment through online registration, click here (Pradhan Mantri Shram Yogi Maan-dhan)

For enrollment through Common Service Centre

  1. The person who is interested and eligible should visit the their nearest CSC center. To locate your local CSC, click here.
  2. While visiting CSC to enroll the applicant must bring along with him the following items :
    1. Aadhar Card
    2. Savings/Jan-Dhan Bank Account Details together with IFS Code ( Bank Passbook or book of Cheque or book or an account statement from the bank as proof of the bank account )
    3. Cash as the initial contribution for the purpose of enrolment under the scheme
  3. The Village Level Entrepreneur (VLE) who are present on the CSC will input aadhar numbers and the name of the subscriber written on the card and the date of birth on the aadhar card, and the information will be checked through the UIDAI database.
  4. Other details such as details about bank Account information, Mobile number email-id, in case there is one spouse or nominee details will be recorded.
  5. Self-certification of eligibility requirements is to be completed.
  6. The system will automatically calculate monthly contributions due according to the subscriber’s age.
  7. Subscribers must also pay for 1 first membership in cash. VLE who will issue a receipt that will be presented at the end of the month to the customer.
  8. Enrolment Form with Auto Debit mandates will also be printed, which is then signature by subscriber. VLE will then take a picture of the signed enrollment debit form and upload it into the system.
  9. Additionally the special Shram Yogi Pension Account Number will be generated. the Shram Yogi Card can be issued at CSC
  10. After the process is completed the subscriber will have in his possession Shram Yogi Card as well as a an official copy of the enrolment form to record his details.
  11. In addition, he will be receiving regular SMS when he activates auto debits and Shram Yogi Pension Account information.

Exit and Withdrawal

  • If the participant leaves the scheme in a time that is under 10 years amount of contributions can be restituted to the beneficiary at a interest rates at the savings bank.
  • If the subscriber decides to leave after at least 10 years, but prior to the age of 60 the beneficiary’s share of the contribution will be deducted along with the accumulated interest earned by the account or the interest rate of the savings bank rate, whichever is greater.
  • If a beneficiary has made regular contributions, and then passed away due to any reason or cause, the spouse is entitled to continue the scheme by making regular contributions or to exit the scheme by receiving the contribution of the beneficiary together with the accrued interest actualized by the fund or at the interest rate of the savings bank rate or the rate of interest that is higher.
  • If a person has paid regular contributions, but is permanently disabled as a result of any reason before the age of 60 and is not able to participate in the scheme, the spouse is entitled to continue the scheme in the future through the payment of regular contributions or leave the scheme paying the contribution of the beneficiary with the interest actually earned by the fund or at the interest rate charged by the savings bank, or higher.
  • If the subscriber dies and/or spouse, the entire fund will be credited into the trust fund.

Default (Pradhan Mantri Shram Yogi Maan-dhan)

If a subscriber is not consistently and regularly contributed to their account, they can be permitted to renew it by paying the full amount of outstanding duesand any penalty fees as determined by the Federal Government.

Pension Pay Out

Participants join the scheme when they reach 18-40 years of age. They can contribute until the age of 60. As soon as they reach the age of 60 and turn 60, they begin receiving a monthly salary of Rs.3000 via DBT and will also receive the benefits of a family pensions or whatever it is.

FAQs on Pradhan Mantri Shram Yogi Maandhan Yojana

1. How many years should a beneficiary contribute to this scheme?

Ans. The applicant is required to pay an amount that is fixed until is 60.

2. Who is not entitled to join this scheme?

Ans. Individuals covered under any statutory Social Security Scheme such as NPS, ESIC, EPFO and an income tax payee are not entitled to join the scheme.

3. Where should I submit my application for enrollment?

Ans. You may approach your nearest Common Service Centre for enrolment facilities.

4. Do I need to give proof of my date of birth or income?

Ans. No need for separate proofs for date of birth or income of the applicant. The basis of enrolment would be self-certification and the Aadhaar number produced during the application process. Nonetheless, the applicant may incur sufficient penalty in case of any false declaration.

Note: Pradhan Mantri Shram Yogi Maandhan is an initiative to ensure pensions for older adults in the non-organized sector. With a guaranteed pension amount every month, people in the unorganized sector can live comfortably in retirement.

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