Pradhan Mantri Shram Yogi Mandhan Pension Yojana (PM-SYM)- 2020

November 21, 2021 , by: Staff Team

Pradhan Mantri Shram Yogi Mandhan Pension Yojana (PM-SYM)- 2020: In this post, I will tell you what is PM-SYM Yojana, the Benefits of Pradhan Mantri Sharm Yogi Mandhan Pension Yojana and how to apply it.

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Pradhan Mantri Shram Yogi Mandhan Pension Yojana

Friends, recently you may be heard a news PM Narendra Modi launched a pension scheme for the Poor daily wages. Under this scheme, every user has to pay a specific premium amount to the Government. When the beneficiary will reach the age of 60, he will get a minimum pension of Rs.3000.

Pradhan Mantri Shram Yogi Mandhan Pension Yojana Features

Pradhan Mantri Shram Yogi Mandhan Pension Yojana-2020 scheme is a voluntary and contributory pension program. The main motive of this scheme is to protect you and your family in your old age.

In this scheme, you have to pay a specific amount to the Government of India as per your current age. Every month the amount will be automatically debited. When you will attend the age of 60, you will get a minimum Assured pension of Rs.3000 in your Bank Account.

Somehow, if the PM-SYM subscriber dies before or after the age of 60, then his/her family will get the assured minimum Pension.

Scheme Name	Pradhan Mantri Shram Yogi Mandhan Pension Yojana (PM-SYM)
Launch Date	February 2019
Assured Pension	Rs.3000 per month after 60 Years
Apply At	CSC Centre
Official Notification	Click Here
Official Website	Click Here

Eligibility Criteria

Following are the eligibility criteria to apply Pradhan Mantri Shram Yogi Mandhan Pension Yojana

The user must be an Indian Citizen
Only 18-40 Aged people are allowed to participate in this scheme
The minimum monthly income should be less than Rs.15000
Must not be a Government employee.
All the labor class people are eligible to Apply
Must not be an income taxpayer
Should not come under the National Pension Scheme (NPS)
Not availing any other central Government Pension Yojana

Required Documents

To apply the PM-SYM scheme, you don’t need extra documents. You just have to carry the following original documents.

Aadhaar Card
Bank Passbook
Passport Size Photo-graph
Working Mobile Number
Valid E-mail Id (Optional)

Contribution of the Subscriber Age wise

In PM-SYM yojana you have to pay a certain amount as per your age. The central government will deposit as much money in your pension account as you deposit. (केंद्र सरकार आपका जितना अनुदान देगी, उतने का भुगतान करेगी) .

For Example; if your contribution for the month of April 2020 was Rs.200. The government will pay an extra Rs.200 for you and it will be deposited in your pension account.

Age	Maturity Age	Your Contribution	Government Contribution	Total Balance
18	60	55	55	55 +55 = 110
19	60	58	58	58 +58 = 116
20	60	61	61	61 + 61 = 122
21	60	64	64	64 + 64 = 128
22	60	68	68	68 + 68 = 136
23	60	72	72	72 + 72 = 144
24	60	76	76	76 + 76 = 152
25	60	80	80	80 + 80 = 160
26	60	85	85	85 + 85 = 170
27	60	90	90	90 + 90 = 180
28	60	95	95	95 + 95 = 190
29	60	100	100	100 + 100 = 200
30	60	105	105	105 + 105 = 210
31	60	110	110	110 + 110 = 220
32	60	120	120	120 + 120 = 240
33	60	130	130	130 + 130 = 260
34	60	140	140	140 + 140 = 280
35	60	150	150	150 + 150 = 300
36	60	160	160	160 + 160 = 320
37	60	170	170	170 + 170 = 340
38	60	180	180	180 + 180 = 360
39	60	190	190	190 + 190 = 380
40	60	200	200	200 + 200 = 400

PM-SYM SUBSCRIBER CONTRIBUTION TABLE

How to Apply PM-SYM Yojana?

All the interested and eligible citizens of India can apply to Pradhan Mantri Shram Yogi Mandhan Pension Yojana at your nearest Common Service Center (CSC) point.

You just have to visit your nearest Digital CSC VLE Service point with documents and ask them to Apply your PM-SYM pension scheme.

After the completion of your Application, the CSC point will issue a PM-SYM card.

Pradhan Mantri Shram Yogi Mandhan Pension Yojana CARD

Application Fee

First, you have to pay the first month’s contribution fee through CSC Point. After that, your monthly contribution will be Auto debited from your account.

There is no extra fee for the new application. However, if the CSC point asks you for the Card Printing charge, you have to pay for it.

Also Read:

Frequently Asked Questions and Answers

What is the Minimum Pension amount to be paid?

When you will reach the age of 60, you will get an Assured Pension of Rs.3000 per month.

What will happen, if the subscriber dies before maturity?

Unfortunately, if the subscriber of PM-SYM dies before the death of maturity, then his/her family member has to continue the scheme till the maturity period. After maturity, the subscriber’s family member (Only Spouse) will get the pension amount.

What is the minimum and maximum age limit for the PM-SYM scheme?

The minimum age limit is 18 years old and the maximum age limit is 40 years old to apply PM-SYM Scheme.

Who will manage the PM-SYM Scheme?

The PM-SYM scheme is an initiative by the Labor department of the Central government. This scheme is being managed by the Life Insurance Corporation of India (LIC). You can visit any LIC office to know your pension status.