In order to overcome the difficulties workers in the unorganised sector face, various schemes are implemented by the government. The Pradhan Mantri Shram Yogi Maandhan Yojana was launched by the government of India in order to provide pensions to those unorganised sector workers who have a monthly income of Rs 15000 or less.
The announcement of the launch was made by the Union Minister Piyush Goyal on the 1st of February 2019. The benefits availed by the workers of the unorganised sector of the economy like drivers, rickshaw pullers, labourers, cobblers, house workers, kiln workers, etc.
The Pradhan Mantri Shram Yogi Maandhan Yojana is being operated through Life Insurance Corporation and the pension will be paid by the same.
In order to apply for the scheme, the applicant has to carry thor Aadhaar card and passbook of the bank account to the CSC centre. A Shramik card will be provided to the applicant after the account has been opened.
Purpose
The primary objective of the Pradhan Mantri Shram Yogi Maandhan Yojana is to provide financial support to the workers of the unorganised sectors of the economy of India by providing them with a pension amount of Rs 3000 after the age of 60 years. The amount received through the means of the scheme, the beneficiary can live his or her life in old age and fulfil their financial needs and requirements.
Benefits
On Withdrawal
In case the beneficiary withdraws from the scheme within a period of fewer than 10 years from the date of the scheme, then the contribution portion will be refunded to them along with only the savings bank rate of interest payable.
In case the beneficiary withdraws from the scheme after completing the period of 10 years of purchase but is less than 60 years of age, then his or her contribution part along with the accumulated interest will be refunded.
In case the beneficiary has contributed regularly and dies due to any reason, then his or her spouse can continue the scheme by paying the regular contributions.
On death or disability
In case the beneficiary dies during the tenure of the scheme, 50% of the pension will be provided to the beneficiary’s spouse. This pension will be given only to the spouse of the beneficiary. Moreover, the regular contributions that have been made by the beneficiary and has become permanently disabled due to any reason before the age of 60 years and are unable to make the contributions, then his or her spouse can get the benefit by making regular contributions.
Online Application Procedure
In order to apply for the scheme, it is compulsory for the applicant to have an Aadhaar card and bank account to be linked with the Aadhaar card. After applying for the Pradhan Mantri Shram Yogi Maandhan Yojana, they will have to pay a premium on a monthly basis.
Applicants of the age of 18 years will have to pay a sum of Rs 55 per month and those who are 29 years old have to pay a premium of Rs 100 per month. Applicants who are the age of 40 years will have to pay a sum of Rs 200 per month as a premium.
You can register yourself under the Pradhan Mantri Shram Yogi Maandhan Yojana by visiting the nearest Public service Centre or Digital Service Centre.