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Pradhan Mantri Shram Yogi Maan-Dhan Yojana

Pradhan Mantri Shram Yogi Maan-Dhan Yojana

In response to a query in the Rajya Sabha, the Union Minister of State for Labour And Employment revealed that a whopping 45,77,295 unorganised workers have enlisted in the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme. It’s a significant step forward in providing social security to our hardworking citizens. It’s noteworthy that these unorganised sectors, where many of these workers operate, play a vital role, contributing roughly 50% to India’s GDP.

About Pradhan Mantri Shram Yogi Maan-Dhan Yojana

  • This scheme is designed for people working in the unorganized sector, earning up to Rs 15,000 per month.
  • The government has allocated Rs 500 crore for this scheme.
  • Workers enrolled in this scheme will receive a guaranteed monthly pension of Rs 3,000 once they turn 60, in exchange for making small, affordable contributions during their working years.
  • For instance, a worker joining at 29 years old only needs to contribute Rs 100 per month until they reach 60. Similarly, someone joining at 18 would contribute just Rs 55 monthly.
  • The government matches the worker’s contribution each month by depositing an equal amount into their pension account.
  • This scheme is launched by the Union Ministry of Labour and Employment, aiming to provide financial security to workers in the unorganized sector.
  • The scheme was first announced in the Interim Budget of 2019.
  • Participation in the PM-SYM scheme is voluntary, aiming to cover a massive 42 crore workers in the unorganized sector.


  • The scheme is available for individuals working in the informal sector.
  • Applicants should not be employed in formal sectors covered by schemes like EPFO, NPS, or ESIC, nor should they be paying income tax.
  • Eligible individuals must be between 18 and 40 years old at the time of registration.
  • Monthly earnings of applicants should not exceed Rs 15,000.


  • Once you turn 60, you’re guaranteed a monthly pension of Rs. 3000.
  • If the subscriber passes away, their spouse will receive 50% of the pension as a family pension.
  • The government matches the contributions made by the subscriber.
  • If the subscriber becomes permanently disabled, they can choose to either continue with the scheme or withdraw the contributed amount.
  • If both the subscriber and their spouse pass away, the money from the scheme goes back into the fund.
  • If there are gaps in contribution payments, subscribers can make up for them by paying any outstanding dues along with penalties determined by the government.


  • It will provide an assured retirement pension and a sense of economic security.
  • Improve social security.
  • Boost overall economic growth.

Read Also: Pandit Deendayal Upadhyay Shramev Jayate Karyakram

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