PM Shram Yogi Maandhan Yojana: Those working in the unorganised sector often worry about their old age. To ensure they do not face hardships in their later years, the Central Government operates the ‘PM Shram Yogi Maandhan Yojana’. Under this scheme, eligible individuals receive a monthly pension of ₹3,000 upon reaching the age of 60.
A key feature of this scheme is that the government contributes an amount equal to the worker’s own contribution, providing significant benefits to the workers. Let us explore this scheme in detail—including the contribution required, the pension amount, and how to apply.
What is the PM Shram Yogi Maandhan Yojana?
The PM Shram Yogi Maandhan Yojana is designed for those working in the unorganised sector. The scheme’s main aim is to ensure that these individuals receive a pension in their old age. Under this scheme, eligible participants make regular monthly contributions, and upon reaching the age of 60, they become entitled to a monthly pension of ₹3,000.
How much investment is required for a ₹3,000 pension?
This is a pension scheme where beneficiaries are required to contribute between ₹55 and ₹200 per month, depending on their age. A notable aspect is that the government contributes an amount equal to the beneficiary’s contribution; in other words, both the individual and the government invest an equal share.
Who is eligible for the scheme?
To avail the benefits of the PM Shram Yogi Maandhan Yojana, applicants must meet certain criteria: they must be between 18 and 40 years of age, work in the unorganised sector, and have a monthly income of less than ₹15,000. Additionally, the individual must not be a beneficiary of EPFO, ESIC, or the NPS. Furthermore, they must not be an income taxpayer.
Invest according to your age
This government scheme requires monthly contributions, with the investment amount determined by the individual’s age. Those aged 18 are required to contribute ₹55 per month, while those aged 40 must contribute ₹200 per month. Upon reaching the age of 60, the beneficiary begins to receive a fixed pension. Under this scheme, both the beneficiary and the government make equal contributions.
How to register for the scheme?
To apply for this government scheme, visit a CSC (Common Service Centre).
Register for the PM Maandhan Yojana.
Provide your Aadhaar card and bank account details.
Enter your mobile number and other required information.
Contribute the monthly amount corresponding to your age.
Once registration is complete, you will receive information regarding the scheme and your pension account details.
Further details can be found on the official website.
What documents are required?
Certain documents are necessary for registration, including an Aadhaar card, a mobile number, bank passbook details, savings account information, and a mobile number linked to your Aadhaar.