Pension Scheme– Who will support you in old age? There is no need to worry, with your small initiative and the help of the government, you can get Rs 3000 every month, the government has a special scheme, which ensures financial self-reliance in old age. That means after 60 years you will not have to beg in front of anyone.

The scheme was launched in 2019

Actually, about 6 years ago in February 2019, the government launched the Pradhan Mantri Shram Yogi Maandhan Yojana. This scheme is especially for people working in the unorganized sector. Workers of the unorganized sector such as street vendors, drivers, rickshaw pullers, construction workers, domestic workers, bidi workers and agricultural workers.

Unorganized Sector Workers face a serious problem of support in old age. After the earning age is over and the body becomes weak, such people are left with no source of income. So far, more than 46,29,664 people across the country have joined this scheme.

Under the Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM), the scheme ensures a monthly pension of ₹3,000 to workers after the age of 60 years. This scheme is for those workers whose monthly income is ₹15,000 or less. That is, workers in the unorganized sector aged between 18 and 40 years, whose monthly income is Rs 15,000 or less, are eligible for this scheme.

How much will have to be deposited?

The worker has to make a monthly contribution according to his age. The government will also deposit the same amount in the account as the worker contributes. For example, if the worker deposits Rs 500 per month, then the government will also deposit Rs 500 on its own. That is, Rs 1000 will be deposited every month.

Another special thing about this scheme is that the younger you join it, the more benefits you get. If a person of 18 years of age joins it, then he will have to pay only Rs 55 every month, while for a 40-year-old person, the monthly contribution becomes Rs 200. The monthly contribution depends on the age of the beneficiary and ranges between Rs 55 and Rs 200. This scheme is run by the Ministry of Labor and Employment.

Example:

At the age of 18: Rs 55/month

At the age of 29: Rs 100/month

At the age of 40: Rs 200/month

This amount has to be deposited till the age of 60.

How to avail the benefit of the scheme?

If you are eligible for this scheme, you can apply through the nearest CSC or online portal. To join this scheme, only Aadhaar Card and Saving Bank Account are required. All bank accounts opened under Pradhan Mantri Jan Dhan Yojana are valid for this scheme. You just have to provide IFSC information along with your account. After the process is complete, you will get Shram Yogi Pension Account Number and Shram Yogi Card from CSC itself.

If the beneficiary dies, the spouse gets 50% of the pension amount as family pension. If the beneficiary exits the scheme in less than 10 years, his/her contribution is refunded with savings bank interest rate. After enrolling in the scheme, a Shram Yogi card is provided to the beneficiary. The scheme is managed through LIC and CSC. Its official website is https://maandhan.in/.