Pradhan Mantri Shram Yogi Maandhan (PM-SYM)

What is it?

Most people who work in the unorganised sector - street vendors, rickshaw pullers, construction workers, farm labourers, domestic workers, head loaders, rag pickers - have no employer setting money aside for their old age. PM-SYM is the government's pension scheme aimed at these workers.

Enrolment is open between the ages of 18 and 40. The worker pays a small fixed amount every month until the age of 60, and the government pays an equal matching amount into the account. How much the worker pays depends on the age at joining: a worker joining at 18 pays Rs 55 a month, at 25 pays Rs 80 a month, and at 40 pays Rs 200 a month. The government matches each of these rupee for rupee.

From the age of 60 the published benefit is a fixed pension of Rs 3,000 every month, for life. On the death of the beneficiary after the pension has started, the spouse receives 50% of the pension amount as a family pension.

The published conditions are that the applicant is an unorganised sector worker aged between 18 and 40 with a monthly income of not more than Rs 15,000, is not covered under EPF, ESIC or NPS, is not an income tax payer, and is not receiving any other government pension benefit. The documents needed are an Aadhaar card, a savings bank or Jan Dhan account with the IFSC code, and a mobile number.

Enrolment is done at a Common Service Centre (CSC) or on the Maandhan portal. Biometric authentication is carried out, the form is filled online, and an auto-debit mandate is set up so the monthly contribution is taken automatically from the bank account. There is a 24x7 helpline on 1800 2676 888. A common misunderstanding: the earlier a worker joins, the smaller the monthly contribution for the same Rs 3,000 pension - joining at 18 costs Rs 55 a month, joining at 40 costs Rs 200 a month.

Potential benefit

Up to ₹3,000 per month

A fixed pension of Rs 3,000 per month from the age of 60, continuing for life. The worker's monthly contribution depends on the age of joining - Rs 55 a month at age 18, Rs 80 at 25 and Rs 200 at 40 - and the Government of India contributes an equal matching amount every month. On the death of the beneficiary after the pension has started, the spouse receives 50% of the pension as family pension.

Who can apply?

Other conditions stated by the government

• Entry age must be between 18 and 40 years.
• Monthly income must not exceed Rs 15,000.
• The applicant must be a worker in the unorganised sector - for example street vendors, rickshaw pullers, construction workers, agricultural workers, domestic workers.
• The applicant must NOT be covered under EPF, ESIC or NPS.
• The applicant must NOT be an income tax payer.
• The applicant must not be receiving any other government pension benefit.

Eligibility information is provided for informational purposes only. Final eligibility and approval are determined by the relevant government authority.

Documents you will need

• Aadhaar card
• Savings bank account or Jan Dhan account with IFSC code
• Mobile number

How to apply

Enrolment is done at the nearest Common Service Centre (CSC) with an Aadhaar card, savings or Jan Dhan account details with IFSC code, and a mobile number, or by registering on the Maandhan portal. Biometric authentication is carried out and the enrolment form is completed online. An auto-debit mandate is then set up so the monthly contribution is deducted automatically from the bank account.

Where to apply: csc and online

Deadline

No fixed deadline. Applications are accepted on a rolling basis.