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Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana


Published on Jun 12, 2019

Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana

Government of India has introduced a pension scheme for unorganised workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganised Workers.

The unorganised workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Further, he/she should not be an income tax payer.

Features of PM-SYM:

It is a voluntary and contributory pension scheme, under which the subscriber would receive the following benefits :

(i) Minimum Assured Pension: Each subscriber under the PM-SYM, shall receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years.

(ii) Family Pension: During the receipt of pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension. Family pension is applicable only to spouse.

(iii) If a beneficiary has given regular contribution and died due to any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.

pmsym

Contribution by the Subscriber:

The subscriber’s contributions to PM-SYM shall be made through ‘auto-debit’ facility from his/ her savings bank account/ Jan- Dhan account. The subscriber is required to contribute the prescribed contribution amount from the age of joining PM-SYM till the age of 60 years. The chart showing details of entry age specific monthly contribution is as under:

Entry Age Superannuation Age Member's  monthly contribution (Rs) Central Govt's  monthly contribution (Rs) Total monthly contribution  (Rs)
(1)
(2)
(3)
(4)
(5)= (3)+(4)
18
60
55
55
110
19
60
58
58
116
20
60
61
61
122
21
60
64
64
128
22
60
68
68
136
23
60
72
72
144
24
60
76
76
152
25
60
80
80
160
26
60
85
85
170
27
60
90
90
180
28
60
95
95
190
29
60
100
100
200
30
60
105
105
210
31
60
110
110
220
32
60
120
120
240
33
60
130
130
260
34
60
140
140
280
35
60
150
150
300
36
60
160
160
320
37
60
170
170
340
38
60
180
180
360
39
60
190
190
380
40
60
200
200
400

 

Matching contribution by the Central Government: PM-SYM is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the Central Government as per the chart. For example, if a person enters the scheme at an age of 29 years, he is required to contribute Rs 100/ - per month till the age of 60 years an equal amount of Rs 100/- will be contributed by the Central Government.

Enrolment Process under PM-SYM:

The subscriber will be required to have a mobile phone, savings bank account and Aadhaar number. The eligible subscriber may visit the nearest Common Services Centres (CSC eGovernance Services India Limited (CSC SPV)) and get enrolled for PM-SYM using Aadhaar number and savings bank account/ Jan-Dhan account number on self-certification basis.
Later, facility will be provided where the subscriber 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 self-certification basis.

Enrollment agencies:

The enrolment will be carried out by all the Common Services Centres. The unorganised workers may visit their nearest CSC along with their Aadhar Card and Savings Bank account passbook/Jandhan account and get registered themselves for the Scheme. Contribution amount for the first month shall be paid in cash for which they will be provided with a receipt.

Facilitation Centres:

All the branch offices of LIC, the offices of ESIC/EPFO and all Labour offices of Central and State Governments will facilitate the unorganised workers about the Scheme, its benefits and the procedure to be followed, at their respective centers.

1. All LIC, EPFO/ESIC and all Labour offices of Central and State Governments may set up a “Facilitation Desk” to facilitate the unorganised workers, guide about the features of the Scheme and direct them to nearest CSC

2. Each desk may consist of at least one staff.

3. They will have backdrop, standi at the main gate and sufficient number of brochures printed in Hindi and regional languages to be provided to the unorganised workers.

4. Unorganised workers will visit these centres with Aadhaar Card, Savings bank account/Jandhan account and mobile phone.

5. Help desk will have onsite suitable sitting and other necessary facilities for these workers.

6. Any other measures intended to facilitate the unorganised workers about the Scheme, in their respective centers.

Fund Management:

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 eGovernance Services India Limited (CSC SPV). LIC will be the Pension Fund Manager and responsible for Pension pay out. The amount collected under PM-SYM pension scheme shall be invested as per the investment pattern specified by Government of India.

Exit and Withdrawal:

Considering the hardships and erratic nature of employability of these workers, the exit provisions of scheme have been kept flexible. Exit provisions are as under:

(i) In case subscriber exits the scheme within a period of less than 10 years, the beneficiary’s share of contribution only will be returned to him with savings bank interest rate.

(ii) If subscriber exits after a period of 10 years or more but before superannuation age i.e. 60 years of age, the beneficiary’s share of contribution along with accumulated interest as actually earned by fund or at the savings bank interest rate whichever is higher.

(iii) 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 fund or at the savings bank interest rate whichever is higher.

(iv) If a beneficiary has given regular contributions and become permanently disabled due to any cause before the superannuation age, i.e. 60 years, and unable to continue to contribute 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 fund or at the savings bank interest rate whichever is higher.

(v) After the death of subscriber as well as his/her spouse, the entire corpus will be credited back to the fund.

(vi) Any other exit provision, as may be decided by the Government on advice of NSSB.

Default of Contributions:

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 get the assured monthly pension of Rs.3000/- with benefit of family pension, as the case may be.

Grievance Redressal:

To address any grievances related to the scheme, subscriber can contact at customer care number 1800 267 6888 which will be available on 24*7 basis(to be effective from 15 Febraury 2019). Web portal/ app will also have the facility for registering the complaints.

Doubt and Clarification:

In case of any doubt on the scheme, clarification provided by the JS & DGLW will be final.

Eligibility Criteria for Pradhan Mantri Shram Yogi Maan-dhan Yojana

• 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

He/ She should possess

• Aadhar card

• Savings Bank Account / Jan Dhan account number with IFSC

List of Professions/ Occupations Covered

Sr. No.

Occupations

1

Agarbatti making

2

Agriculture

3

Agriculture machinery handling

4

Anganwadi Workers

5

Animal Husbandry

6

Arrack and Liquor production and vending

7

Asha Workers

8

Audio and visual workers

9

Automobile work

10

Bakery work

11

Band playing

12

Bangle manufacturing

13

Beads making/ piercing

14

Beautician

15

Beedi manufacture

16

Bicycle repair

17

Bindi work

18

Blacksmithy

19

Boat/Ferry occupation

20

Book binding

21

Brick Kiln work

22

Brush making

23

Breweries Distilleries

24

Building and Road maintenance

25

Bulb manufacture

26

Bullock/Camel-cart operation

27

Butchery

28

Cable TV operation

29

Cane/Reed work

30

Carpentary

31

Carpet weaving

32

Cashew processing

33

Catering

34

Chikan work

35

Cine Service

36

Cloth printing

37

Clubs and canteen service

38

Coaching service

39

Coir processing/manufacture

40

Confectionery

41

Construction work

42

Construction of tents and pedals supply of utensils and decoration for function

43

Courier service

44

Dairying and allied activities

45

Data entry operation

46

Distribution of petroleum products

47

Domestic work

48

Dyeing

49

Electronic electrical goods repairs

50

Electroplating

51

Embroidery work

52

Envelop making

53

Fire work cracker production

54

Fishery production

55

Fish processing

56

Flora work and garland making

57

Flour mills operations

58

Footwear production

59

Foresty operation

60

Foundry

61

Gardening and parks maintenance

62

Garment manufacture

63

Gem cutting

64

Ginning

65

Glassware manufacturing

66

Goldsmithy

67

Hair dressing

68

Handloom weaving

69

Hawking and vending

70

Headload work

71

Health service

72

Honey gathering

73

Horticulture and Floriculture

74

Hotel and Restaurant service

75

Lock making

76

Manual operation on unspecified jobs

77

Masala making

78

Matches manufacture

79

Mid-Day Meal Worker

80

Minor forest produce gathering

81

Minor mineral and mines work

82

Newspaper vending

83

NGO service

84

Oil extraction

85

Packing and Packaging

86

Panwalla service

87

Pappad making

88

Petrol bunk/pump and allied service

89

Pickle making

90

Plantation (Other than those covered under Plantation Labour Act, 1951 (Act No. 69 of 1951)

91

Plastic manufacture

92

Pottery

93

Powerloom weaving

94

Printing press work

95

Quary work

96

Rag picking

97

Rice milling

98

Rickshaw pulling

99

Salt pan work

100

Sand mining

101

Sawmill work

102

Scavenging

103

Security service

104

Sericulture (Silk rearing)

105

Service station work

106

Shepherding

107

Shoe shining work

108

Shop and establishment service

109

Small scale industries

110

Soap manufacture

111

Sports good manufacture

112

Steel vessels and utensils manufacture

113

Stone crushing

114

Sweeping

115

Tanning (including hides and skin production) leather goods manufacture

116

Telephone booth service

117

Temple leaves collection

118

Tendu leaves collection

119

Timber Industry (Furniture manufacturing etc)

120

Tobacco processing

121

Toddy tapping

122

Toy making

123

Transport service (driving conducting, cleaning etc.)

124

Laundry Work

125

Wayside Mechanics and workshop service

126

Welding

127

Any other similar Occupation

Enrolment Process for PM-SYM Yojana

1. Interested eligible person shall visit nearest CSC centre. Location of CSC centre can be ascertained from the information page on web sites of LIC of India, Ministry of Labour and Employment and CSC.

2. While going to CSC for enrolment, he shall carry with him the following :

I. Aadhar Card

II. Savings/Jan Dhan Bank Account details along with IFS Code ( Bank Passbook or Cheque Leave/book or copy of bank statement as evidence of bank account )

III. Initial contribution amount in cash for enrolment under the scheme

3. Village Level Entrepreneur (VLE) present at the CSC will key-in aadhar number, name of subscriber as printed on aadhar card and date of birth as given in aadhar card and the same will be verified with UIDAI database.

4. Further details like Bank Account details, Mobile Number, Email-id, if any, spouse and nominee details will be captured.

5. Self-certification for eligibility conditions will be done.

6. System will auto calculate monthly contribution payable according to age of the subscriber.

7. Subscriber shall also pay the amount of 1st subscription in cash to the VLE who will generate receipt to be handed over to the subscriber.

8. Enrolment Form cum Auto Debit mandate will also be printed which will then be signed by the subscriber. VLE then shall scan the signed enrolment cum auto debit mandate and upload into the system.

9. At the same time, a unique Shram Yogi Pension Account Number will be generated and Shram Yogi Card will be printed at CSC

10. With completion of process, subscriber will be having with him Shram Yogi Card and signed copy of enrolment form for his record.

11. He will also receive regularly SMS on activation of auto debit and Shram Yogi Pension Account details.

Enrolment Process

Summary

Government of India has introduced a voluntary and contributory pension scheme for the unorganised workers under the name of Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for Unorganised Workers.

The scheme is eligible only for the unorganised workers mostly engaged as home based workers, street vendors, landless labourers, own account workers, agricultural workers or other similar occupations with monthly income up to Rs 15,000/- and belonging to age group 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Also, he/she should not be an income tax payer.

• Enrollment in PM-SYM scheme is a simple and easy process

• It is a voluntary and contributory pension scheme

• Each subscriber will be entitled to receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years

• It is a scheme on a 50:50 basis where prescribed age-specific contribution will be made by the beneficiary and the matching contribution by the Central Government.












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