Big relief for laborers. The Indian government rolls out various schemes aimed at different groups within the country, with a significant focus on supporting the economically disadvantaged. These initiatives are designed to assist those who struggle financially. A notable portion of the workforce in India consists of unorganized laborers who rely on daily wages, meaning their earnings today determine their future. To address this, the Government of India has introduced a pension plan specifically for these workers.
In 2019, the Pradhan Mantri Shram Yogi Maandhan Yojana was launched to provide financial stability and future security for unorganized laborers. This pension scheme offers benefits to those employed in the unorganized sector, providing a monthly pension of up to Rs 3000. Workers are required to contribute a certain amount each month, and the great part is that the government matches their contributions.
Workers receive benefits
When it comes to this program, workers like shop owners, drivers, rickshaw pullers, cobblers, plumbers, tailors, washermen, and barbers are eligible for benefits. To qualify for this scheme, workers need to be between 18 and 40 years old. They must contribute for at least 20 years to be eligible. Once they reach 60, they’ll receive a monthly pension based on their contributions.
How to apply for this scheme
To sign up for the Pradhan Mantri Shram Yogi Maandhan Yojana, just head to your nearest Common Service Center. You can register there, but make sure to bring some documents like your Aadhar card, PAN card, and either a savings account passbook or checkbook. After you register successfully, you’ll get a Shram Yogi card number, and the monthly contributions will be automatically deducted from your account.