Pradhan Mantri Shram Yogi Maandhan Yojana Explained

Key Points

• 1PM-SYM, launched by the Government of India, provides social security to unorganized workers.
• 2The scheme ensures a minimum monthly pension of ₹3,000 after the age of 60 for workers from the unorganized sector with a monthly income up to ₹15,000.
• 3Unorganized workers include home-based workers, street vendors, and various other occupations.
• 4As of December 31, 2024, over 30.51 crore unorganized workers were registered on the e-Shram portal.
• 5The scheme is administered by the Ministry of Labour and Employment in collaboration with the Life Insurance Corporation of India (LIC).
• 6The contribution amount varies based on the age at the time of enrolment, with equal contributions from the worker and the government.
• 7Upon reaching 60 years of age, beneficiaries start receiving a fixed pension of ₹3,000 per month for their lifetime.