A pension scheme for unorganised workers
The scheme is meant for old age protection and social security of Unorganised Workers (UW) who are mostly engaged as rickshaw pullers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, home-based workers, own-account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audiovisual workers or in similar other occupations.
- Should be an unorganised worker (UW)
- Entry age between 18 and 40 years
- Monthly Income Rs 15000 or below
Should not be
- Engaged in Organized Sector (membership of EPF/NPS/ESIC)
- An income tax payer
Documents Required/ (He/ She should possess)
- Aadhar card
- Savings Bank Account / Jan Dhan account number with IFSC
Features of Scheme:
It is a voluntary and contributory pension scheme, under which the subscriber would receive a minimum assured pension of Rs 3000/- per month after attaining the age of 60 years and if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension as a family pension. Family pension is applicable only to spouse.
Contribution by the UW Subscriber:
Through ‘auto-debit’ facility from his/ her savings bank account/ Jan- Dhan account from the date of joining PM-SYM till the age of 60 years as per the chart below. The Central Government will also give equal matching contribution in his pension account.
|Entry Age||Superannuation Age||Member’s Monthly Contribution|
|Central Govt’s Monthly Contribution |
|Total Monthly Contribution|
The Unorganised Worker will be required to visit the nearest Common Services Centre (CSC) and get enrolled for PM-SYM using Aadhaar Card and Savings bank/ Jan-Dhan account number on a self-certification basis. First subscription to be paid in cash and auto-debit from next month onwards.
Later, the facility will be provided where the UW can also visit the PM-SYM web portal or can download the mobile app and self-register using Aadhar number/ savings bank account/ Jan-Dhan account number on a self-certification basis.
The enrolment will be carried out by all the Common Services Centres
in the country.
All the Labour offices of State and Central Governments, all the branch offices of LIC, the offices of ESIC/EPFO will act as Facilitation Centres to give full information to the Unorganised Workers (UW) about the Scheme, its benefits and the procedure to be followed, at their facilitation desks/ help desks.
PM-SYM will be a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and CSC e-Governance Services India Limited (CSC SPV). LIC will be the Pension Fund Manager and responsible for Pension payout.
Exit and Withdrawal:
Considering the hardships and erratic nature of employability of Unorganised Workers (UW), the exit provisions of the scheme have been kept flexible.
1.If he/ she exits the scheme within a period of less than 10 years, the beneficiary’s share of contribution only will be returned to him with a savings bank interest rate.
2.If subscriber exits after a period of 10 years or more but before 60 years of age, the beneficiary’s share of contribution along with accumulated interest as
actually earned by the fund or at the savings bank interest rate whichever is higher.
3.If a beneficiary has given regular contributions and died due to any cause, his/her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit by receiving the beneficiary’s contribution along with accumulated interest as actually earned by the fund or at the savings bank interest rate whichever is higher.
4.If a beneficiary has given regular contributions and become permanently disabled due to any cause before 60 years, and unable to continue under the scheme, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit the scheme by receiving the beneficiary’s contribution with interest as actually earned by the fund or at the savings bank interest rate whichever is higher.
5.After the death of subscriber as well as his/her spouse, the entire corpus will be credited back to the fund.
If a subscriber has not paid the contribution continuously he/she will be allowed to regularize his contribution by paying entire outstanding dues, along with penalty charges, if any, decided by the Government.
Pension Pay out:
Once the beneficiary joins the scheme at the entry age of 18-40 years, the beneficiary has to contribute till 60 years of age. On attaining the age of 60 years, the subscriber will receive by DBT the assured monthly pension of Rs.3000/- with the benefit of family pension, as the case may be.
Customer Care number 1800 2676 888 (available 24*7). Web portal/ app will also have the facility for registering the complaints.
Doubts and Clarifications:
In case of any doubt on the scheme, clarification provided by the Joint Secretary & Director General (Labour Welfare) will be final. Email at ShramYogi@nic.in
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