The Pradhan Mantri Shram Yogi Maandhan Yojana is a social security scheme of the central government, specifically launched for workers in the unorganised sector. Through this scheme, pension benefits are provided to those who do not have a stable source of income for their future. This scheme focuses on ensuring financial independence in old age.
Which workers are eligible for this scheme?
This scheme is for people who work as street vendors, domestic workers, rickshaw or e-rickshaw drivers, construction workers, or those who work on a daily wage basis. This scheme is considered especially important for families whose income depends entirely on unorganised work.
Age and income eligibility criteria
Only workers between the ages of 18 and 40 years can avail of the benefits of the Pradhan Mantri Shram Yogi Maandhan Yojana. Additionally, their monthly income should be Rs 15,000 or less. People working in the organised sector or those who pay income tax are not eligible for this scheme.
How much is the monthly contribution?
To join this scheme, a worker has to deposit a fixed amount every month. The contribution amount is determined according to age, ranging from approximately Rs 55 to Rs 200. This contribution has to be made regularly until the age of 60.
How much pension will be received after 60?
When a person enrolled in the scheme completes 60 years of age, they receive a pension of Rs 3000 every month. This makes the annual pension amount Rs 36,000, which helps with daily expenses in old age.
What benefits does the family receive in case of death?
If a worker enrolled in the scheme dies, their spouse receives 50 percent of the pension amount. This provides financial support to the family and offers some relief in case of a sudden loss of income.
Documents Required for Application
To apply for the Pradhan Mantri Shram Yogi Maandhan Yojana, you will need an Aadhaar card, identity proof, bank account passbook, permanent or correspondence address, mobile number, and a passport-sized photograph. Having the correct documents will make the application process easier.