PMSYM: Pradhan Mantri Shram Yogi Maan-dhan

 

 

PMSYM:The Government of India has launched Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM), a pension scheme designed to provide old-age protection for unorganized workers. This scheme aims to support individuals engaged in various occupations such as home-based workers, street vendors, brick kiln workers, agricultural workers, and more, whose monthly income is Rs 15,000 or less. The eligibility criteria include being in the age group of 18-40 years, not being covered under NPS, ESIC, or EPFO, and not being an income tax payer.

 

PMSYM Key Features 

 

Minimum Assured Pension: Subscribers under PM-SYM will receive a minimum assured pension of Rs 3000 per month after reaching the age of 60 years.

 

Old Pension Scheme Good news for government employees, old pension scheme will be implemented in this state!

 

Family Pension: In the event of the subscriber’s demise during the receipt of pension, the spouse will be entitled to receive 50% of the pension as family pension. This provision is applicable only to the spouse.

PMSYM

Continuation or Exit: If a beneficiary has given regular contributions and passes away before the age of 60, the spouse can choose to continue the scheme by paying regular contributions or exit the scheme following the applicable provisions.

 

PMSYM;Contributions by the Subscriber 

 

Subscribers of PM-SYM are required to contribute to the scheme through an auto-debit facility from their savings bank account or Jan-Dhan account. The prescribed contribution amount must be made from the age of joining PM-SYM until reaching the age of 60 years. The specific monthly contribution amounts vary based on the age of entry.

 

By implementing PM-SYM, the government aims to ensure financial security and pension benefits for unorganized workers, empowering them to lead a dignified life during their old age.

PMSYM

 

Entry AgeSuperannuation AgeMember’s  Monthly Contribution (Rs)Central Govt’s  Monthly Contribution (Rs)Total Monthly Contribution  (Rs)
(1)(2)(3)(4)(5)= (3)+(4)
18605555110
19605858116
20606161122
21606464128
22606868136
23607272144
24607676152
25608080160
26608585170
27609090180
28609595190
2960100100200
3060105105210
3160110110220
3260120120240
3360130130260
3460140140280
3560150150300
3660160160320
3760170170340
3860180180360
3960190190380
4060200200

 

Matching contribution by the Central Government: PM-SYM is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the Central Government as per the chart. For example, if a person enters the scheme at an age of 29 years, he is required to contribute Rs 100/ – per month till the age of 60 years an equal amount of Rs 100/- will be contributed by the Central Government.

5. Enrolment Process under PM-SYM:

 The subscriber will be required to have a mobile phone, savings bank account and Aadhaar number. The eligible subscriber may visit the nearest Common Services Centres (CSC eGovernance Services India Limited (CSC SPV)) and get enrolled for PM-SYM using Aadhaar number and savings bank account/ Jan-Dhan account number on self-certification basis. Later, facility will be provided where the subscriber can also visit the PM-SYM web portal or can download the mobile app and self-register using Aadhaar number/ savings bank account/ Jan-Dhan account number on self-certification basis.

6. Enrollment agencies: The enrolment will be carried out by all the Common Services Centres. The unorganized workers may visit their nearest CSC along with their Aadhaar Card and Savings Bank account passbook/Jandhan account and get registered themselves for the Scheme. Contribution amount for the first month shall be paid in cash for which they will be provided with a receipt.

7. Facilitation Centres: All the branch offices of LIC, the offices of ESIC/EPFO and all Labour offices of Central and State Governments will facilitate the unorganized workers about the Scheme, its benefits and the procedure to be followed, at their respective centres. In this respect, the arrangements to be made by all offices of LIC, ESIC, EPFO all Labour offices of Central and State Governments are given below, for ease of reference: 1.  All LIC, EPFO/ESIC and all Labour offices of Central and State Governments may set up a “Facilitation Desk” to facilitate the unorganized workers, guide about the features of the Scheme and direct them to nearest CSC 2.  Each desk may consist of at least one staff. 3.  They will have backdrop, stand at the main gate and sufficient number of brochures printed in Hindi and regional languages to be provided to the unorganized workers. 4.   Unorganized workers will visit these centres with Aadhaar Card, Savings bank account/Jandhan account and mobile phone. 5.   Help desk will have onsite suitable sitting and other necessary facilities for these workers. 6.   Any other measures intended to facilitate the unorganized workers about the Scheme, in their respective centres.

8.Fund Management: PM-SYM will be a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and CSC eGovernance Services India Limited (CSC SPV). LIC will be the Pension Fund Manager and responsible for Pension pay out. The amount collected under PM-SYM pension scheme shall be invested as per the investment pattern specified by Government of India.

9.Exit and Withdrawal: Considering the hardships and erratic nature of employability of these workers, the exit provisions of scheme have been kept flexible. Exit provisions are as under: (i)  In case subscriber exits the scheme within a period of less than 10 years, the beneficiary’s share of contribution only will be returned to him with savings bank interest rate. (ii)  If 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 fund or at the savings bank interest rate whichever is higher. (iii)  If a beneficiary has given regular contributions and died due to any cause, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit by receiving the beneficiary’s contribution along with accumulated interest as actually earned by fund or at the savings bank interest rate whichever is higher. (iv)  If a beneficiary has given regular contributions and become permanently disabled due to any cause before the superannuation age, i.e. 60 years, and unable to continue to contribute under the scheme, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit the scheme by receiving the beneficiary’s contribution with interest as actually earned by fund or at the savings bank interest rate whichever is higher. (v)  After the death of subscriber as well as his/her spouse, the entire corpus will be credited back to the fund. (vi)  Any other exit provision, as may be decided by the Government on advice of NSSB.

11. Default of Contributions: 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.

12. Pension Pay out:Once the beneficiary joins the scheme at the entry age of 18-40 years, the beneficiary has to contribute till 60 years of age. On attaining the age of 60 years, the subscriber will get the assured monthly pension of Rs.3000/- with benefit of family pension, as the case may be.

13. Grievance Redressal: To address any grievances related to the scheme, subscriber can contact at customer care number 1800 267 6888 which will be available on 24*7 basis(to be effective from 15 February 2019). Web portal/ app will also have the facility for registering the complaints.

14. Doubt and Clarification: In case of any doubt on the scheme, clarification provided by the JS & DGLW will be final.

15. CSC Locator: For finding the nearest CSC, please visit locator.csccloud.in

 

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PM Shram Yogi Maandhan Yojana Registration 2023

PM Shram Yogi Maandhan Yojana is a pension scheme launched by the Government of India in 2019. It provides a monthly pension of Rs. 3000 to eligible individuals in the unorganized sector. If you wish to register for this scheme, it’s important to understand the eligibility criteria, registration process, pension status, premium amounts, benefits, and the procedure to download the PMSYM Card in PDF format. Here is a detailed overview of the PM Shram Yogi Maandhan Yojana registration for 2023:

 

PM Shram Yogi Maandhan Yojana Registration 2023

The Pradhan Mantri Shram Yogi Maandhan Yojana offers a pension scheme for workers in the unorganized sector. To apply for this scheme, it is crucial to familiarize yourself with the eligibility criteria and the registration dates. The scheme has been successful in providing financial security to individuals in the unorganized sector. In this article, we will discuss the online registration process for the PM Shram Yogi Maandhan Yojana in 2023. You will find detailed information below, and if you have any queries, feel free to comment below, and our team will provide you with a solution.

 

PM Shram Yogi Maandhan Yojana Online Registration 2023

The PM Shram Yogi Maandhan Yojana was announced by the Finance Minister, Piyush Goyal, in 2019. It is a central government scheme that encompasses various other plans, including LIC, EPFO, and ESIC. The aim of this scheme is to provide financial support to uncategorized laborers in India. In this article, we will provide you with all the important information regarding the Pradhan Mantri Shramyogi Yojana. This includes details about eligibility, the application process for the PM Shramyogi Pension, and the benefits offered by the scheme.

 

 

Pradhan Mantri Shram Yogi Scheme Eligibility Criteria

  • You must be between 18 to 40 years of age. Smaller your age, less premium you have to deposit and higher returns will be given to you.
  • Your income must not be more than 15000 per month.
  • You need to be a citizen of India.
  • You should not be a tax payer.
  • Also belongs from unorganized sector. Now who belongs from this sector? Any individual who does not have fixed income and only rely on daily wages is from unorganized sector. Ranging from , vegetable vendor, cobbler, bidi maker, handloom worker, construction workers, landless workers etc.
  • Must have functional mobile number, adhaar card and a Savings account.

 

How To apply for PM Shram Yogi Maandhan Yojana online, follow these steps

 

To apply for PM Shram Yogi Maandhan Yojana online, follow the steps below:

  1. Visit the Common Services Centre (CSC) nearest to you.
  2. Carry your bank details and passbook as evidence.
  3. Provide all the necessary details to the VLE (Village Level Entrepreneur) at the CSC.
  4. The VLE will assist you in filling out the application form and verify the information provided.
  5. The VLE will calculate the premium amount based on your age and deduct it from their wallet. You will need to pay the premium amount in cash to the VLE.
  6. After submitting the form, you will receive a confirmation message.
  7. You will be assigned a unique pension number for future reference.

Please note that the process may vary slightly depending on the specific CSC and the instructions provided by the VLE. It is advisable to visit the official website of PM Shram Yogi Maandhan Yojana or contact the nearest CSC for detailed and accurate information on the application process.

 

To check your PMSYM balance, you can conveniently do so online through the UMANG website. Follow the steps below to access your account information:

  1. Visit the UMANG login portal, which provides access to various government services and schemes.
  2. Enter the mobile number that is registered with your PMSYM account.
  3. Choose the login method, either through M-pin or by entering the OTP (One-Time Password) received on your mobile number.
  4. Once you successfully log in, you will be able to view your PMSYM account balance and access details of past transactions.

In the event of a payment failure or irregular contributions, it is essential to take the necessary steps to regularize your contributions. This can be done by paying any outstanding dues along with any fines that may have been levied by the government.

If you have any queries or need assistance regarding the PMSYM scheme, you can reach out to the customer care helpline at 1800 267 6888. The customer care service is available round the clock to address your concerns. Additionally, you can utilize the web portal or app to register any complaints or seek clarification regarding the scheme.

It is crucial to emphasize that the PMSYM scheme aims to provide a secure future for individuals who rely on daily wages. By availing of this government-backed initiative, these workers can look forward to enjoying their retirement years with financial stability and peace of mind.

Please note that it is always advisable to visit the official websites and contact authorized channels for the most accurate and up-to-date information on checking PMSYM balances and addressing any queries related to the scheme.

 

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