The Pradhan Mantri Shram Yogi Maandhan is a government-backed pension scheme designed to provide financial security to unorganised sector workers in India.
Under this scheme, eligible workers receive a guaranteed monthly pension of ₹3,000 after the age of 60, helping them maintain a stable income during old age.
PM-SYM Scheme Overview
Feature
Details
Scheme Name
Pradhan Mantri Shram Yogi Maandhan (PM-SYM)
Launched By
Government of India
Ministry
Ministry of Labour & Employment
Type
Central Sector Scheme
Pension Amount
₹3,000 per month
Entry Age
18 to 40 years
Income Limit
Up to ₹15,000/month
Contribution
₹55 to ₹200/month
Government Share
Equal contribution (50:50)
Implementing Agency
LIC of India
Objective of PM-SYM Scheme
The main goal of PM-SYM is to:
Provide old-age social security to unorganised workers
Reduce financial dependency after retirement
Encourage long-term savings habits among low-income workers
Who Can Apply? (Eligibility Criteria)
To enroll in PM-SYM, the applicant must:
✔ Be an unorganised sector worker ✔ Age between 18 to 40 years ✔ Monthly income ₹15,000 or less ✔ Have an Aadhaar card & bank account
❌ Not Eligible If:
Covered under EPFO / ESIC / NPS
Income tax payer
Working in organised sector
Eligible Workers List
This scheme mainly benefits:
Street vendors
Rickshaw pullers
Construction workers
Domestic workers
Agricultural labourers
Beedi workers, handloom workers
Rag pickers, cobblers, etc.
Contribution Details (Age-wise)
PM-SYM works on a 50:50 contribution model, where:
You contribute monthly
Government contributes the same amount
Entry Age
Monthly Contribution
18 years
₹55
25 years
₹80
30 years
₹105
35 years
₹150
40 years
₹200
👉 Earlier you join, lower your contribution.
Benefits of PM-SYM Pension Scheme
1. Assured Monthly Pension
₹3,000 per month after 60 years
2. Family Pension
Spouse gets ₹1,500/month (50%) after subscriber’s death
3. Government Contribution
Equal contribution by Government of India
4. Social Security
Ensures financial stability in old age
Exit & Withdrawal Rules
Situation
Benefit
Exit before 10 years
Only your contribution returned
Exit after 10 years
Contribution + interest
Death before 60
Spouse can continue or withdraw
Disability
Spouse can continue or exit
How to Apply for PM-SYM Scheme
You can register through:
👉 Offline (CSC Centers)
Visit nearest Common Service Centre (CSC)
Submit Aadhaar & bank details
Pay first contribution
👉 Online
Visit official Maandhan portal
Register using Aadhaar & bank account
Documents Required
Aadhaar Card
Savings Bank / Jan Dhan Account
Mobile Number
How Contributions Are Paid
Monthly contribution is auto-debited from your bank account
You must continue payments till age 60
Scheme Implementation
Managed by Life Insurance Corporation of India
Supervised by Ministry of Labour & Employment
Enrollment through CSC centers
Helpline & Support
Toll-Free Number: 1800 2676 888 / 14434
Available 24×7 for queries and complaints
PM-SYM vs Other Pension Schemes
Scheme
Target Group
Pension
PM-SYM
Unorganised workers
₹3,000/month
Atal Pension Yojana
All citizens
₹1,000–₹5,000
NPS
Salaried & self-employed
Market-linked
Frequently Asked Questions
1. Is PM-SYM mandatory?
No, it is a voluntary scheme.
2. Can I join after 40 years?
No, the entry age is strictly 18–40 years.
3. What happens if I miss contributions?
You can pay pending dues with penalty and continue.
4. Can husband and wife both apply?
Yes, both can enroll separately and receive pension individually.