New Delhi, Mar 4
The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) is a pension scheme launched by the Indian government to provide financial security to unorganised sector workers. It guarantees a monthly pension of ₹3,000 after the age of 60 for workers earning up to ₹15,000 per month.
This scheme is designed for workers who do not have access to formal employment benefits, including street vendors, rickshaw pullers, domestic workers, construction workers, agricultural laborers, beedi workers, handloom workers, and others engaged in informal jobs.
Under this scheme, the government contributes an equal amount to what the worker pays. The contribution varies based on the age of enrollment—ranging from ₹55 per month at 18 years to ₹200 per month at 40 years. After turning 60, the enrolled worker will receive a fixed pension of ₹3,000 every month. If the worker passes away, the spouse is entitled to 50% of the pension as a family pension.
To enroll, workers need to visit a Common Service Centre (CSC) with their Aadhaar card and bank details, complete biometric authentication, fill out a registration form, and pay the first contribution in cash. Alternatively, they can also register through the Maandhan portal (https://maandhan.in/).
Workers who stop contributing can reactivate their accounts by paying any outstanding dues along with a penalty if required. In case a worker exits the scheme early, they will receive a refund based on their contributions and applicable interest rates.
To ensure the scheme reaches more workers, the government has taken several initiatives such as running awareness campaigns via SMS, integrating PM-SYM with the e-Shram portal, and launching a “Donate-a-Pension” option where employers can contribute to their workers’ pension. Regular meetings with state governments and CSC representatives are also being conducted to improve implementation.
PM-SYM is an important step in providing social security to millions of workers in India’s unorganised sector. By ensuring a steady pension, the scheme helps workers live with dignity after retirement. The government is making continuous efforts to increase enrollments and create a more inclusive financial support system for the country’s labor force.
