Pradhan Mantri Shram Yogi Mandhan Yojana Pension: After the age of 60, there is a new scheme that provides a guaranteed pension of Rs 3000 per month. This article will discuss the benefits and what is needed to qualify for this great deal. How this works is that the person has to pay only Rs 200 per month, but at the age of 60, he can make a claim on his retirement pension. But this will be subject to the condition that he has paid all of his dues towards his contribution towards the National Pension Scheme (NPS).
who doesn’t want a guaranteed Rs 3000 pension after the age of 60? That’s right, I don’t want one either! But this article is telling you how you can get it for yourself.
What is Pradhan Mantri Shram Yogi Mandhan Yojana?
Pradhan Mantri Shram Yogi Mandhan Yojana (PM SHRM) is a government scheme that guarantees pensions to the elderly. The scheme was originally announced in the Union Budget of 2018.
The PM SHRM scheme offers an interest-free loan of Rs 1,000 to those aged 60 or above. The loan is repaid over a period of 10 years, and the amount repaid will be proportional to the pension that the elderly person receives from their employer.
The eligibility criteria for PM SHRM are as follows:
- The applicant must be a resident of India and have an income below Rs 15,000 per month.
- The applicant must have been employed with the same employer for at least 2 years before applying for the scheme.
- The applicant must have been paying regular pension contributions during that time.
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The benefits of PM SHRM are as follows:
- The applicant will get a loan of Rs 1,000 from the government. This amount will be repaid over 10 years, with interest at 8% per annum.
- If the applicant qualifies for a pension from their employer, their pension contribution will also be waived during repayment of the loan.
How does it work?
After you reach the age of 50, you can start getting a guaranteed Rs. Pension from the Government every day. The pension is calculated based on your average monthly salary in the last 36 months.
To get started, you need to fill out a form called “Application for Pension”. You will also need to provide your birth certificate, passport, and proof of residence. Once you have filled out the form and provided all of the necessary information, the government will begin processing your application.
The process may take up to 10 weeks, but it’s worth it! You will receive a notification once your application has been accepted and your pension has been deposited into your bank account.
Who is Eligible for the Pension? PMSYM
If you are over the age of 50, you are eligible for the Pension under the Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM). To be eligible, you must have been a resident of India for a continuous period of at least 5 years immediately preceding the date of application for Pension.
This means that if you were born on February 15, 1948, you would be eligible for Pension on February 15, 1966. If you are between the ages of 45 and 49, you are also eligible for PMSYM if you have been a resident of India for a continuous period of at least 3 years immediately preceding the date of application for Pension.
Pradhan Mantri Shram Yogi Mandhan: Features You Should Know About
The Pradhan Mantri Shram Yogi Mandhan (PMSYM) is a pension scheme launched by the Indian government to provide financial security to the elderly. The pension is available to people who have completed 55 years of age or have been physically disabled for a continuous period of not less than five years. The amount of pension that a person receives depends on their income, marital status, and other factors.
Monthly Contribution (PMSYM)
The Pradhan Mantri Shram Yogi Mandhan (PMSYM) . The amount that one can deposit towards this plan is in the range of Rs. 55 to Rs. 200. The subscriber and the central government make the contribution towards this scheme on a 50:50 basis. Hence, this amount will be auto-debited from their bank account or Jan Dhan account of the subscriber.
How to apply for Pmsym pension scheme?
To apply for the Pmsym pension scheme, you first need to register with the scheme. You can do this by visiting the Pmsym website and filling out an application form. Once your application has been processed, you will receive an automatic notification letter informing you of your eligibility and how to proceed with claiming your pension. If you have any questions about applying for the Pmsym pension scheme, please contact the Pmsym helpline on 1800 267 6888