How to Apply for PM-YSM Pension Scheme

Pradhan Mantri Shram Yogi Maandhan
Pradhan Mantri Shram Yogi Maandhan

How to Apply for PM-YSM Pension Scheme : Government of India introduced a pension scheme to support the old age life of an unorganized worker namely Pradhan Mantri Shram Yogi Maandhan (PM-SYM).

This unorganised worker category includes the persons engaged inn home based works, street vendors, head loaders, cobblers, construction workers, beedi workers etc. The person who is working in similar field without exceeding a monthly salary of rupees 15000 is eligible for this pension scheme.

The entry age for this pension is in between 18 and 40. The individual who enter in this pension scheme has to made a monthly consistent payment with range from rupees 55 to rupees 200. A contribution which is equal to the contribution of the individual is made from the part of government. After the individual reaches the superannuation age, i.e. at the age of 60, he will receive an amount of rupees 3000 as pension per month. The amount of contribution that the individual should pay will vary according to the age of their entry for this pension. For example if a person enter to this pension at the age of 18, then he needs to pay an amount of rupees 55 per month. But if the entering age is 40, then he needs to pay an amount of rupees 200 as monthly payment.

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For applying for this pension scheme, (Pradhan Mantri Shram Yogi Maandhan), individuals must visit a nearest Common Service Centres and get enrolled for PM-YSM using the documents and requirements given below;

  1. A valid Mobile Number (will receive OTPs and other major details regarding the pension scheme)
  2. Savings Bank Account Pass Book / Jan-Dhan account number
  3. Aadhar Card

The enrollment to this pension scheme is carried out by all the Common Service Centres like Akshaya. The unorganised workers may visit their nearest CSC along with their Aadhar Card and Savings Bank account passbook/Jandhan account and get registered themselves for the Scheme. Contribution amount for the first month shall be paid in cash for which they will be provided with a receipt.

To locate your nearest Common Service Centres, Click Here

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