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

✦Key Features

• ₹3,000/month guaranteed pension from age 60 for unorganized sector workers
• Monthly contribution: ₹55 (age 18 entry) to ₹200 (age 40 entry); government matches 1:1
• Eligibility: 18-40 years; monthly income ≤₹15,000; not EPFO/NPS/ESIC member
• 47+ lakh registered workers (2025); managed by Life Insurance Corporation (LIC)
• Family pension: 50% (₹1,500/month) to spouse on worker's death after 60
• Exit before 60: bank savings rate if before 10 years; 7.5% if after 10 years
• Part of Jan Suraksha trinity extension for workers

✓Eligibility Criteria

• The applicant must be an unorganized worker such as a street vendor, rickshaw puller, or construction worker.
• The entry age of the beneficiary must be between 18 and 40 years.
• The monthly income of the applicant must be Rs 15,000 or less.
• The applicant should not be covered under any statutory social security schemes like EPFO, ESIC, or NPS (Govt. funded).
• The applicant should not be an income tax payer.

★Benefits

• The beneficiary receives a minimum assured pension of Rs 3,000 per month after reaching the age of 60.
• During the receipt of pension, if the subscriber dies, the spouse is entitled to 50% of the pension as a family pension.
• The Central Government provides a matching contribution equal to the amount deposited by the subscriber.
• The scheme allows for flexible exit options with interest credited to the account based on the duration of participation.

▶Application Process

• The eligible person should visit the nearest Common Service Centre (CSC) for registration.
• The applicant provides their Aadhaar card and Savings Bank account details for biometric authentication.
• The first installment of the monthly contribution is paid in cash at the CSC.
• The system automatically calculates the monthly contribution based on the age of the applicant.
• A Shram Yogi Card with a unique ID is generated and handed over to the beneficiary.

₹ Budget Allocation

200

Funding Ratio (Centre:State): 50:50 (Contribution-based: 50% by subscriber, 50% by Central Government)

Historical Context

Announced in the Interim Budget 2019 to provide a safety net for the informal sector which constitutes 90% of India's workforce.

Sub-Schemes

Challenges

• High attrition rate in contributions due to seasonal unemployment
• Lack of awareness among the most vulnerable migratory workforce
• Complexities in documentation for workers without bank accounts or Aadhaar-linked mobiles

Reforms & Recommendations

• Auto-debit facility linked to PM-KISAN benefits for agri-laborers
• Introduction of a flexible contribution model (variable amounts based on seasonal income)
• Integration with the e-Shram card for automatic eligibility checks

Performance Statistics

SDG Linkages

Constitutional Backing

Technology Used

Success Stories

Key Takeaways

• Guaranteed monthly pension of Rs. 3,000 after age 60
• Age group for entry: 18-40 years
• Family pension: 50% of the pension to spouse in case of death
• Exit provisions with interest if exited before 10 years

Convergence Schemes

• e-Shram Portal (for registration)
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
• Atal Pension Yojana (APY)

Sector Tags