PM Shram Yogi Maandhan Yojana: Old age becomes more challenging than youth when a regular income ceases. Managing daily expenses during such times becomes quite difficult. Having a steady monthly income makes it easier to cover day-to-day costs. This is a major concern, particularly for daily wage labourers, domestic workers, street vendors, and those employed in the unorganised sector. To address these issues, the Central Government runs the PM Shram Yogi Maandhan Yojana.

Under this government scheme, eligible individuals are required to deposit a monthly amount ranging from ₹55 to ₹200, depending on their income. This works out to approximately ₹2 to ₹7 per day. Crucially, the Central Government contributes an amount equal to the beneficiary’s contribution. Upon reaching the age of 60, the beneficiary begins receiving a monthly pension of ₹3,000.

What is the PM Shram Yogi Maandhan Yojana?

The PM Shram Yogi Maandhan Yojana is designed for workers in the unorganised sector. It is a voluntary pension scheme launched in 2019. Participants in the scheme begin receiving a regular income at the age of 60. For every ₹100 contributed by an individual, the government also contributes a matching ₹100.

Who can avail the benefits of the scheme?

To join the scheme, an individual must be between 18 and 40 years of age and have a monthly income of ₹15,000 or less. Eligibility extends to domestic workers, street vendors, rickshaw pullers, landless agricultural labourers, beedi workers, handloom workers, leather industry workers, and others employed in the unorganised sector.

Who is not eligible for the scheme?

This scheme excludes individuals who are already covered under social security schemes such as EPFO, ESIC, or the government-contributed NPS; they cannot join the PM-SYM scheme. Additionally, income taxpayers are not eligible for this scheme.

How ​​much is the monthly contribution?

The contribution amount depends on the age at which the individual joins the scheme: joining at a younger age requires a lower contribution, while joining at an older age requires a higher one. For instance, an individual joining at age 18 needs to contribute ₹55 per month, whereas someone joining at age 40 must contribute ₹200 per month. All accumulated contributions are used to provide the pension after age 60.

When is the ₹3,000 pension received?

According to the scheme’s terms, if an individual makes regular contributions until the age of 60, the beneficiary receives a monthly pension of at least ₹3,000. This ensures a fixed monthly income even after the individual’s ability to work or perform manual labour has diminished.

How ​​to register?

To apply for this scheme, an eligible individual must visit a nearby Common Service Centre (CSC) to register for the PM Shram Yogi Maandhan scheme. Required documents include an Aadhaar card and details of a savings bank account or Jan Dhan account. Once enrolled, the monthly contribution can be automatically deducted from the bank account; online registration facilities are also available. Eligible individuals can also register through the official Maandhan portal.