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

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

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 at 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 NamePradhan Mantri Shram Yogi Mandhan Pension Yojana (PM-SYM)
Launch DateFebruary 2019
Assured PensionRs.3000 per month after 60 Years
Apply AtCSC Centre
Official NotificationClick Here
Official WebsiteClick 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 PM-SYM scheme, you don’t need extra documents. You just have to carry the following original documents.

  1. Aadhaar Card
  2. Bank Passbook
  3. Passport Size Photo-graph
  4. Working Mobile Number
  5. 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 extra Rs.200 for you and it will be deposited in your pension account.

AgeMaturity AgeYour ContributionGovernment ContributionTotal Balance
1860555555 +55 = 110
1960585858 +58 = 116
2060616161 + 61 = 122
2160646464 + 64 = 128
2260686868 + 68 = 136
2360727272 + 72 = 144
2460767676 + 76 = 152
2560808080 + 80 = 160
2660858585 + 85 = 170
2760909090 + 90 = 180
2860959595 + 95 = 190
2960100100100 + 100 = 200
3060105105105 + 105 = 210
3160110110110 + 110 = 220
3260120120120 + 120 = 240
3360130130130 + 130 = 260
3460140140140 + 140 = 280
3560150150150 + 150 = 300
3660160160160 + 160 = 320
3760170170170 + 170 = 340
3860180180180 + 180 = 360
3960190190190 + 190 = 380
4060200200200 + 200 = 400
PM-SYM SUBSCRIBER CONTRIBUTION TABLE

How to Apply PM-SYM Yojana?

All the interested and eligible citizens of India can apply 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.

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 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 a Assured Pension pof Rs.3000 per month.

What will happen, if 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 PM-SYM scheme?

The minimum age limit is 18 years old and 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 Central government. This scheme is being managed by Life Insurance Corporation of India (LIC). You can visit any LIC office to know your pension status.

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