The government is implementing various schemes to support people from all sections of the country, particularly those in the unorganized sector.
One such scheme is the Pradhan Mantri Shrama Yogi Mandhan Yojana (PMSYM), which aims to provide financial assistance to workers in the unorganized sector.
The scheme offers a fixed pension of Rs. 3,000 per month to eligible workers after they reach the age of 60.
To apply for this scheme, workers between the ages of 18 and 40 must make regular contributions for at least 20 years. The government also matches the workers’ contributions.
It’s important to note that to be eligible for the Pradhan Mantri Shrama Yogi Mandhan Yojana, applicants should not benefit from any other central government pension scheme, and their monthly income should not exceed a certain limit. This ensures that the scheme reaches those who need it most.
Applying for the Pradhan Mantri Shrama Yogi Mandhan Yojana is a straightforward process.
Workers can visit the nearest Common Service Center (CSC) with their Aadhaar card, bank account details, and nominee details.
After verification, an account will be opened, and a Shrama Yogi card will be issued, making them part of this beneficial scheme.
This scheme is expected to benefit a wide range of unorganized workers, including street vendors, lunch workers, brick kiln workers, cobblers, cloth washers, rickshaw pullers, landless workers, agricultural workers, construction workers, beedi workers, weavers, and leather workers. The government allocated Rs. 177.24 crore for this scheme in the Interim Budget 2024.