Pradhan Mantri Shram Yogi Maan Dhan Yojana is a government-backed scheme for old-age pension benefits for unorganized workers in India. The scheme was launched by the government on February 15, 2019, in the interim budget of 2019-2020, and it is being implemented by the Ministry of Labour and Employment.
Under this scheme, workers who are engaged in the unorganized sector, including rickshaw pullers, construction workers, street vendors, domestic workers, etc., can avail of pension benefits after they turn 60 years of age. The scheme provides a monthly pension of Rs 3,000 to the beneficiaries, who have contributed to the scheme during their work years.
The beneficiaries of the scheme are required to make a monthly contribution to the scheme, depending on their age, as follows:
Age (years) | Monthly Contribution (Rs)
————|————————–
18-29 | 55
30-39 | 100
40-49 | 200
50-59 | 300
The scheme provides a matching contribution from the government of India, which is equal to the contribution made by the beneficiary. The government contribution is up to 50% of the contribution made by the beneficiary, subject to a maximum of Rs 1,500 per year.
One of the unique features of the Pradhan Mantri Shram Yogi Maan Dhan Yojana is that it does not require the beneficiaries to undergo any document verification or eligibility certification. This makes it easy for workers in the unorganized sector to enroll in the scheme and avail of the pension benefits without any hassle.
The scheme is meant to provide social security to the unorganized workers, who are often vulnerable to economic hardship and poverty in their old age. It is estimated that over 10 crore unorganized workers stand to benefit from this scheme, making it one of the largest pension schemes in the world.
Overall, the Pradhan Mantri Shram Yogi Maan Dhan Yojana is a welcome step towards providing social security and financial stability to the unorganized workers in India. The scheme is expected to have a transformative impact on the lives of millions of workers and their families, providing them with a dignified life in their old age.