- Announcement of Prime Minister Shram Yogi Maandhan Pension Scheme in Budget 2019
- Under this scheme, unorganized sector workers will get a pension of Rs 3,000
- Depending on the age of the beneficiary, it will be decided how much he has to contribute
- The government will contribute on their behalf in their account equal to the amount of the beneficiary
What is Pradhan Mantri Shramayogi Maandhan (PM-SYM) scheme
The government has started this pension scheme for those working in the unorganized sector. Under this scheme, the investor has to invest some amount every month. The government guarantees a pension of 3 thousand rupees to the investor every month on completion of 60 years of age through this scheme. Through this scheme, the investor will get pension throughout his life. Please tell that as much as you contribute to this scheme, the government also contributes as much to your account.
Special features of Prime Minister Shram Yogi Maandhan – Features of PM-SYM
- You have to contribute to the age of 60, the government will contribute equally
- On completion of 60 years, a pension of 3 thousand rupees will be started for life.
- After your death, the wife will get one and a half thousand rupees for life.
- No pension or one-time lump sum facility to the family after wife’s death
How much investment is needed in the Maandhan scheme
- If you are 18 years old, then for the pension of 3,000 rupees from the age of 60, it is necessary to invest 55 rupees every month.
- If you are 29 years old, then for the pension of 3,000 rupees from the age of 60, invest 100 rupees every month.
- If you are 40 years old, then for the pension of 3,000 rupees from the age of 60, you have to invest 200 rupees every month.
How to avail the benefit of Pradhan Mantri Shramayogi Maandhan Yojana
- You must be between 18 and 40 years of age while opening an account.
- Apart from this, monthly income should be less than 15 thousand rupees.
- The biggest bet is you should not be an income tax payer or tax payer.
- Eligible persons should not be covered under EPFO, NPS and ESIC
- It is mandatory for the subscriber to have a mobile phone, Aadhaar Card
- Savings Bank Account is also mandatory for the scheme
How to apply?
To apply under this scheme, you have to go to your nearest CSC center. Do not forget to carry Aadhaar card, bank passbook and mobile phone with you. Make sure that the IFSC code should be mentioned on your savings account passbook.
Contribution of how much?
The amount you have to deposit will be determined by your age. The amount that will be fixed, you will have to pay till you are 60 years old. Except for the first subscription amount, all the funds will be deducted from your savings account on a monthly basis. You must deposit the first subscription in cash. After this, the amount will be automatically deducted from the account until you are 60 years old.
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