Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) was rolled out by the Ministry of Labour and Employment from 15 February 2019. The scheme announced in the Interim Budget was notified by the Ministry recently. As many as 42 crore workers are estimated to be engaged in the unorganized sector of the country.
Following are the Salient Features of PM-SYM:
1. Minimum Assured Pension: Each subscriber under the PM-SYM, shall receive minimum assured pension of Rs 3000/- per month after attaining the age of 60 years.
2. Family Pension: During the receipt of pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension. Family pension is applicable only to spouse.
Source- Press Information Bureau (PIB)