Pradhan Mantri Shram Yogi Maandhan to come into force from February 15, 2019

PMSYM feb 15 byscoop

Pradhan Mantri Shram Yogi Maandhan to come into force from February 15, 2019

  • The Pradhan Mantri Shram Yogi Maandhan (PMSYM) Yojana that was announced in the Budget for 2019-20 will come into force from February 15, 2019. It is a pension scheme for workers of unorganised sector.

  • All unorganised sector workers up to 40 years of age can subscribe to the Pradhan Mantri Shram Yogi Maandhan (PMSYM) scheme from February 15, 2019. The scheme has been brought under the Unorganised Workers’ Social Security Act, 2008.

  • Eligibility: This Scheme shall be open only to the unorganised worker for joining,
    • whose monthly income is not exceeding fifteen thousand rupees
    • who has a savings bank account in his name and
    • has Aadhar number.
    • Age from 18 years to 40 years

  • Monthly Contribution/ Premium: The worker joining the scheme at the age of 40 years would contribute Rs 200, while workers at the age of 29 years would pay Rs 100. However the age wise monthly premium is given in the table below.