Pradhan Mantri Shram Yogi Maandhan scheme

Pradhan Mantri Shram Yogi Maandhan (PM-SYM) is a voluntary contributory pension scheme that aims to provide social security to informal labor force in India. It benefits informal workers between age group of 18 to 40 who are earning less than Rs.15,000 per month. Under this scheme, workers pay monthly contribution between Rs.55 and Rs.200 and a matching contribution is provided by the government. Once the beneficiaries reach the age of 60, they will receive monthly pension of Rs.3,000.
To attract more enrolment into flagship scheme, the Central Government is looking to offer a free accident cover or cutting down the monthly contribution amount. The monthly enrolment under this scheme had hit an all-time low over the recent past.

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