LAUNCHED 2019 · SOCIAL SECURITY

PM Shram Yogi Maandhan (PM-SYM)

Voluntary pension scheme for unorganised-sector workers

2019
Launched
₹3,000
Monthly Pension
18–40
Entry Age (yrs)
📌 Why It Matters: PM-SYM is a frequently asked social-security scheme. Remember the assured pension amount (₹3,000/month), the entry age range and the contributory (50:50) nature.

Pradhan Mantri Shram Yogi Maandhan (PM-SYM) is a voluntary and contributory pension scheme for workers in the unorganised sector such as street vendors, rickshaw pullers, domestic workers and agricultural labourers. Under the scheme, an enrolled worker is assured a minimum monthly pension of ₹3,000 after attaining 60 years of age. The government contributes an equal matching amount to the worker's contribution.

🎯 Key Objectives

  • Provide old-age income security to unorganised-sector workers
  • Encourage long-term savings through a contributory pension model
  • Ensure social security for low-income informal workers
  • Offer an assured minimum pension after the age of 60

📋 Key Facts

Launched February 2019
Ministry Ministry of Labour & Employment
Assured Pension ₹3,000 per month after age 60
Entry Age 18 to 40 years
Eligibility Unorganised workers with monthly income up to ₹15,000
Contribution Contributory — government matches the subscriber's contribution (50:50)
⚡ Exam Pointers
  • Assured pension: ₹3,000/month after 60 years
  • Entry age: 18–40 years; income up to ₹15,000/month
  • Government gives equal (matching) contribution
  • Administered via LIC & implemented by Min. of Labour & Employment

📝 Test Yourself — 5 Questions

Practice MCQs for competitive exams

Q1. PM Shram Yogi Maandhan (PM-SYM) was launched in which year?
A. 2017
B. 2018
✔ C. 2019
D. 2020
Q2. The assured monthly pension under PM-SYM is:
A. ₹1,000
B. ₹2,000
✔ C. ₹3,000
D. ₹5,000
Q3. PM-SYM is meant primarily for:
A. Government employees
✔ B. Unorganised-sector workers
C. Large corporates
D. Defence personnel
Q4. The entry age range to join PM-SYM is:
A. 16–35 years
✔ B. 18–40 years
C. 21–50 years
D. 25–45 years
Q5. Under PM-SYM, the government contribution is:
A. Zero
B. One-fourth of subscriber
✔ C. Equal matching contribution
D. Double the subscriber