Pradhan Mantri Shram Yogi Maan Dhan Yojana (Mega Pension Scheme)

Finally, the Central Government has presented its most awaited budget in 2019. This time, the government has come with three new government schemes 2019 named Pradhan Mantri Shram Yogi Maan Dhan Yojana – प्रधानमंत्री श्रमयोगी मानधन योजना, Pradhan Mantri Kisan Samman Nidhi Yojana for small marginal farmers and National Kandhenu Yojana for Cows. In this article, we will discuss Mega Pension Scheme.

Pradhan Mantri Shram Yogi Maan Dhan Yojana (Mega Pension Scheme)

The government has announced to launch Mega Pension Scheme named Pradhan Mantri Shram Yogi Maan Dhan Yojana to the unorganized sector workers to provide a monthly pension after the age of 60.

Pradhan Mantri Shram Yogi Maan Dhan Yojana Objective

Actually, the central government has launched this scheme with an aim to provide financial security to the unorganized sector workers after the age of 60. In this scheme, the government will provide a pension of Rs. 3000 per month to the unorganized sector workers after the age of 60.

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However, only Government employees were taking the benefits of Pension Schemes but now the unorganized sector workers will also be able to take the benefit of a monthly pension under Pradhan Mantri Shram Yogi Maan Dhan Yojana This scheme will be a mega pension scheme for unorganized sector workers.

Pradhan Mantri Shram Yogi Maan Dhan Yojana Benefits

  • In this scheme, on a monthly contribution of Rs 100, the workers will receive a pension of Rs. 3000 per month after the age of 60 years.
  • Under this scheme, about 10 million workers of the unorganized sector will be guaranteed a minimum pension after retirement.
  • The scheme benefit will be given to those workers who are working in the unorganized sector whose monthly income is less than Rs.15, 000.
  • This scheme will be a financial security scheme for the weakest 25% of people in the unorganized sector.
  • This scheme will cover working people like domestic maids, drivers, plumber, electricity workers, who can earn less than 15000/-.
  • if a worker is regularly contributing and after some reason he dies, his wife will be eligible to take the scheme forward. She can contribute further in the scheme.
  • If the beneficiary’s wife or husband wants to get out of the scheme on the death of the contributor, he/she can get the full amount including the interest on the total contribution made and can be out of the scheme.

Eligibility Criteria for PMSYMY

  • The worker age should be between 18 to 40 years, If the worker is already being a member of any other pension scheme supported by the Central Government, the worker will not be eligible for this scheme.
  • In order to join the mega pension scheme, the worker’s income in the unorganized sector should not exceed Rs 15,000. The eligible person should have a Savings Bank Account and Aadhar number.

Who will be the Part of this Scheme

This scheme will cover all the workers of unorganized sector engaged in layers, rickshaw drivers, construction workers, garbage collectors, bead makers, handlooms, agricultural labourers, cobbler, washers, leather workers and other similar tasks.

Monthly Contribution Plan Detail

  • If a worker joins this scheme at the age of 18 years, he will have to deposit the monthly amount of Rs. 55.
  • If a worker joins this scheme at the age of 29 years, he will have to deposit the monthly amount of Rs. 100.
  • If a worker joins this scheme at the age of 40 years, he will have to deposit the monthly amount of Rs. 200.
  • The government will also contribute the same amount. Under the scheme, the contribution will be made until the age of 60 years.

This scheme will be a mega pension scheme for unorganized sector workers. With the help of this scheme, the unorganized sector workers will be able to receive a monthly pension in their old age.

Comments 2

  1. AshokKumar kshirasagar Shahapur

    Congratulations

    • Honourable Sir , We are very much interested to have such schemes in today’s costly life

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