What is Pradhan Mantri Shram Yogi Maandhan Yojana?
Pradhan Mantri Shram Yogi Maandhan is a voluntary and contributory Pension Scheme
for Unorganized Workers for entry age of 18 to 40 years with monthly income of
Rs.15,000 or less.
Who can subscribe under this scheme?
Any unorganized worker in the age group of 18-40 years, whose job is casual in
nature , such as home based workers, street vendors, head loaders, brick kiln,
cobblers, rag pickers, domestic workers, washer-men, Rickshaw Pullers, Rural
landless labourers, own account workers, agricultural workers, construction workers,
beedi workers, handloom workers, leather workers, etc. with monthly income less than
Rs 15,000/-. The worker should not be covered under any statutory social security
schemes such as National Pension Scheme (NPS), Employees’ State Insurance
Corporation scheme, Employees’ Provident Fund Organization Scheme and is not an
income tax payee.
What are the benefits of this scheme?
If any unorganized worker subscribes the scheme and has paid regular contribution up
to the age of 60 years, he will get a minimum monthly pension of Rs. 3,000/-. Also
after his/her death, spouse will receive a monthly family pension which is 50% of
the pension.
For how many years the beneficiary will contribute?
Once the beneficiary joins the scheme at the entry age between 18-40 years, he has
to contribute till he attains the age 60 years.
How much pension would be received by subscriber under the scheme and at what age?
Under the Scheme, minimum pension is of Rs. 3000/- per month shall be paid. The
subscriber will start on attaining the pension at the age of 60 years.
Who are not entitled to join this scheme?
Under the scheme any worker who is covered under any statutory Social Security
Scheme such as NPS, ESIC, EPFO and an income tax payee is not entitled to join the
scheme.
Does the subscriber have to give date of birth and income?
No, separate proof of age or the income is to be given. Self Certification and
provision of the Aadhaar number will be the basis for enrollment. However in case of
any false declaration, may attract appropriate penalty.
What is the mode of contribution?
Primarily, the mode of contribution is on monthly basis by auto-debit. However, it
will also have provisions of quarterly, half yearly and yearly contribution. First
contribution is to be paid in cash at Common Service Centre.
Will there be any administrative cost?
There will be no administrative cost to the subscriber as it is a purely Social
Security Scheme of Government of India.
Is there a nomination facility available?
Yes, under the scheme, nomination facility is available. Beneficiary can nominate
any one as nominee under the scheme.
What happens in case of subscriber’s death before the start of the pension?
In such an event, if a beneficiary has given regular contribution and died due to
any cause, his/her spouse will be entitled to join and continue the scheme
subsequently by payment of regular contribution for the remaining period. On
completion of the contribution period, the spouse will receive a monthly pension of
Rs. 3,000/-. Alternatively, if the spouse so desires, the amount of the member’s
contribution will be returned back to his/her nominee with an interest equivalent to
saving bank rates interest.
Are there any educational qualifications prescribed for becoming a member of the scheme?
No. There are no minimum educational qualifications necessary for joining the
Scheme.
What are the documents that are to be submitted at the enrollment center?
The subscriber has to provide Aadhaar card, savings bank passbook and a
Self-Certified form along with consent form for auto-debit facility.
Is the subscriber required to pay the monthly contribution till the age of 60 years?
Yes. After joining the Scheme, the subscriber has to pay the prescribed monthly
contribution till the age of 60 years.
What happens if the worker joins the scheme as unorganized worker but later he joins organized sector, gets enrolled under EPFO and again comes back to the unorganized sector, what would be the modalities for the same?
In case the worker moves from the unorganized sector to the organized sector, in
such an event, the subscriber can continue with scheme however the Government
contribution will stop and the member will have to pay additional amount equal to
the Government share. Alternatively, he may withdraw his contribution with interest.