Login With Google
Pradhan Mantri Shram Yogi Maandhan (PMSYM)
Why is it in the news ?
- The Finance Minister in the interim Budget 2019, has proposed to launch a mega pension yojana namely ‘Pradhan Mantri Shram-Yogi Maandhan’ (PMSYM) for the unorganised sector workers.
More in about the Scheme
- This pension yojana will be for those unorganised sector workers who have monthly income upto Rs 15,000.
- The scheme will provide them an assured monthly pension of Rs 3,000 from the age of 60 years on a monthly contribution during their working age.
- An unorganised sector worker joining pension yojana at the age of 29 years will have to contribute only Rs 100 per month till the age of 60 years.
- A worker joining the pension yojana at 18 years, will have to contribute as little as Rs 55 per month only.
- The Government will deposit equal matching share in the pension account of the worker every month.
- For the workers contributing Rs 100 per month, equal contribution would be paid by the government.
Source
Indian Express.