Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM)

Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a voluntary and contributory pension scheme launched by the Ministry of Labour and Employment, Government of India. Designed specifically to protect informal and unorganized sector workers in their old age, the scheme provides an assured monthly pension of ₹3,000 upon reaching 60 years of age, ensuring lifelong dignity and financial independence for daily-wage earners, street vendors, domestic helpers, and agricultural laborers.

PM-SYM operates on a 50:50 matching contribution basis. The beneficiary deposits a small age-dependent monthly amount (ranging from ₹55 for an 18-year-old up to ₹200 for a 40-year-old) via automated monthly bank debit, and the Central Government deposits an exact matching 100% equal amount directly into the subscriber's pension account. The accumulated pension corpus is managed by the Life Insurance Corporation of India (LIC), ensuring zero investment risk and sovereign pension security.

The financial structure and entitlements under PM-SYM include: 1. Assured ₹3,000 Monthly Pension: From the date you turn 60 years old, a fixed ₹3,000 is directly credited every month to your linked bank account for the rest of your life. 2. Family Pension Protection: If the subscriber passes away after age 60, their spouse receives a lifelong 50% family pension of ₹1,500 per month. If both husband and wife are individual subscribers, both receive ₹3,000 each (total ₹6,000/month). 3. Pre-60 Demise or Disability: If the subscriber passes away before age 60, the spouse can either continue the scheme by paying regular contributions or exit the scheme and withdraw the full contribution amount with earned interest. 4. Flexible Exit Rules: If you exit the scheme within 10 years, your entire savings share is refunded with savings bank interest. If you exit after 10 years, you receive your share with higher fund interest rates. 5. Automatic Auto-Debit: Contributions are deducted automatically from your bank or Jan Dhan account, eliminating the hassle of visiting physical branches every month.

To join the PM-SYM scheme, an applicant must fulfill the following mandatory criteria: • Target Worker Profile: Must be an unorganized worker (home-based worker, street vendor, mid-day meal worker, head loader, brick kiln worker, cobbler, rag picker, domestic worker, washerman, rickshaw puller, landless agricultural laborer, construction worker, beedi worker, handloom worker, leather worker, audio-visual worker, etc.). • Entry Age: Must be between 18 and 40 years of completed age. • Monthly Income Limit: Monthly earnings must not exceed ₹15,000 per month. • Exclusions: The applicant must NOT be an income tax payer and must NOT be covered under any statutory organized social security schemes such as EPFO (Provident Fund), ESIC, or NPS.

Keep the following documents ready for registration: 1. Aadhaar Card (mandatory for identity and biometric authentication). 2. Savings Bank Account Passbook or Jan Dhan Bank Account details (Account Number & IFSC Code). 3. Active Mobile Number. 4. Initial monthly contribution amount in cash (₹55 to ₹200 depending on your current age) for the first month's deposit at the CSC center.

• Aadhaar Card of the worker
• Active Savings Bank Account Passbook or Jan Dhan Account details (with IFSC)
• Registered Mobile Number linked with Aadhaar
• Auto-Debit Mandate Form signed by applicant

Enrolling in PM-SYM is fast and can be done through CSC centers or self-registration on maandhan.in: Method 1 — Through Common Service Centre (CSC) (Recommended): Step 1: Visit your nearest Common Service Centre (CSC / Digital Seva Kendra) with your Aadhaar Card and Bank Passbook. Step 2: The Village Level Entrepreneur (VLE) enters your Aadhaar number, name, and date of birth, and verifies your identity via biometric fingerprint or Iris scan. Step 3: Bank account details and nominee information are entered. The system automatically calculates your monthly contribution slab based on your age. Step 4: The auto-debit mandate form is printed, signed by you, and scanned back into the system. Step 5: Pay the first month's contribution in cash to the VLE. An instant Shramik Pension Card with a unique 12-digit Pension Account Number (SPAN) is printed and handed to you. Method 2 — Self-Enrollment on maandhan.in: Visit maandhan.in, click 'Enrollment', choose 'Self Enrollment', enter your mobile number and Aadhaar OTP, complete the bank auto-debit setup, and pay the first installment via net banking/UPI.

Enrollment under PM-SYM is open throughout the year with no deadline. Auto-debit deductions occur monthly from the subscriber's account on the agreed date.

• Enrolling if you already have an active EPFO (PF) or ESIC account (unorganized sector eligibility is cross-verified with central labour databases, leading to rejection). • Letting your bank account run out of balance for multiple consecutive months, which causes auto-debit bounces and freezes the pension account (can be regularized by paying unpaid dues with small penalty charges). • Not updating spouse or nominee details at registration. • Paying registration charges to agents (CSC center registration fee is paid directly by the Central Government; you only pay your own first month contribution).

Enroll at a younger age to lock in the lowest possible monthly contribution (e.g. just ₹55/month at age 18). Always maintain at least ₹200 in your savings bank account to avoid monthly auto-debit bounce fees.