The Central government's Pradhan Mantri Shram Yogi Maan-Dhan Yojana (PM-SYM) promises to provide financial stability to millions of workers in India's unorganised sector. The scheme guarantees a monthly pension of ₹3,000 after the age of 60, ensuring a secure and dignified old age for low-income workers who lack PF or pension coverage.
From rickshaw pullers and street vendors to domestic workers, cobblers, and construction labourers - millions of Indians in the unorganised sector struggle without any financial cushion for their retirement years. PM-SYM aims to bridge that gap.
Launched by the Ministry of Labour and Employment, the scheme allows workers aged 18 to 40 years with a monthly income of ₹15,000 or less to join by contributing a small amount every month. The government matches this contribution on a 1:1 basis, making it a shared savings plan for the worker's future.
Enrolment is voluntary. Depending on the entry age, workers contribute between ₹55 and ₹200 per month until they turn 60. Once the subscriber reaches 60 years of age, they begin receiving a guaranteed pension of ₹3,000 per month for life. In case of the subscriber's death, the spouse receives 50% of the pension as a family pension.
The scheme is administered by the Life Insurance Corporation of India (LIC), which acts as the pension fund manager, ensuring complete transparency and security of deposits.
Eligible beneficiaries include:
Workers in the unorganised sector with income up to ₹15,000 per month.
Individuals aged between 18 and 40 years at the time of joining.
Applicants must not be covered under EPFO, ESIC, or NPS and must not be income tax payers.
This includes workers such as auto drivers, street vendors, tailors, electricians, domestic helpers, agricultural labourers, small shopkeepers, and similar professions.
Interested individuals can enrol at their nearest Common Service Centre (CSC) or online via the official portal maandhan.in. Applicants need only their Aadhaar card and a savings or Jan Dhan account passbook.
After biometric or OTP verification at the CSC, the first instalment is paid in cash, and subsequent contributions are auto-debited monthly from the linked bank account. Upon successful registration, subscribers receive a PM-SYM card as proof of enrollment.
For assistance, a toll-free helpline - 1800 267 6888 - is available.
India's unorganised sector employs over 38 crore workers, the majority of whom lack any pension or retirement benefits. The PM-SYM scheme provides a vital safety net, encouraging financial discipline and helping ensure that millions of workers can retire with dignity.
As a senior labour ministry official noted, "This is not just a pension scheme, it's an assurance of respect and self-reliance for those who build our nation with their daily hard work."
Pension Amount: ₹3,000 per month after 60 years
Eligible Age: 18-40 years
Income Limit: ₹15,000/month
Contribution: ₹55-₹200 per month (matched by Govt)
Administered by: LIC of India
Portal: www.maandhan.in
Helpline: 1800 267 6888