Pradhan Mantri Shram Yogi Mandhan Yojana is a major initiative by the Central Government for workers in the unorganized sector such as street vendors, rickshaw pullers, domestic workers, and small farmers. Under this scheme, if a person invests only ₹55 per month, they receive a monthly pension of ₹3000 after the age of 60. The scheme aims to provide financial security in old age to those with low income.
What is Pradhan Mantri Shram Yogi Mandhan Yojana?
This is a social security scheme launched by the Ministry of Labour and Employment to provide financial assistance to poor and lower-income individuals working in the unorganized sector. Citizens aged between 18 and 40 years can join this scheme.
How Does the Scheme Start with Just ₹55 per Month?
If you are 18 years old, you need to contribute only ₹55 per month. At the age of 40, the contribution increases to ₹200 per month. The government contributes an equal amount to your contribution. For example, if you deposit ₹100, the government will add ₹100 more. After retirement, you will receive ₹3000 per month as a lifetime pension.
Who Can Join the Scheme?
Individuals working in the unorganized sector can join, including:
- Laborers
- Rickshaw pullers
- Domestic workers
- Street vendors
- Agricultural workers
- Daily wage earners
Your monthly income should be below ₹15,000, and you must not be a member of any other pension scheme such as EPF, NPS, or ESIC.
Key Benefits of the Scheme
- Lifetime Pension Security: Fixed pension of ₹3000 after the age of 60.
- Equal Government Contribution: The government adds the same amount as you contribute.
- Easy Registration: Available online or through the nearest CSC (Common Service Center).
- Automatic Deduction: The contribution amount is auto-debited from your bank account.
- Spouse Benefit: After the subscriber’s death, the spouse receives 50% of the pension.
How to Apply Online for Pradhan Mantri Shram Yogi Mandhan Yojana
- Visit your nearest CSC (Common Service Center).
- Carry your Aadhaar card, bank passbook, and mobile number.
- The operator will register you based on your age and documents.
- You will receive a Pension Card and Unique Number.
- The decided amount will be automatically deducted from your bank account every month.
Eligibility Conditions
- Age must be between 18 to 40 years.
- Monthly income should not exceed ₹15,000.
- The applicant should not be a member of any other government pension scheme.
- Must have a bank account and Aadhaar card.
PM Shram Yogi Mandhan Pension Calculator
If your age is 25 years and you contribute ₹80 per month, you will receive ₹3000 per month after turning 60. This scheme combines long-term investment with a secure future.
Advantages of the Scheme
- Financial support in old age
- Family security
- Government guarantee
- Risk-free investment
- High returns from a small investment
| official website | View |
Conclusion
Pradhan Mantri Shram Yogi Mandhan Yojana is a relief for millions working in the unorganized sector who worry about their future. By contributing as little as ₹55 per month, one can ensure a monthly pension of ₹3000 in old age. It truly represents the idea of “small investment, big benefit.”