{"id":157876,"date":"2025-03-06T19:40:29","date_gmt":"2025-03-06T14:10:29","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=157876"},"modified":"2025-03-06T19:40:29","modified_gmt":"2025-03-06T14:10:29","slug":"pm-sym-scheme","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/pm-sym-scheme","title":{"rendered":"Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Scheme"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The government has introduced new features and expanded outreach efforts to improve the implementation of the <\/span><b>Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Scheme<\/b><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-157850 alignright\" src=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2025\/03\/62-67c9a52fd7b56.webp\" alt=\"PM-SYM\" width=\"502\" height=\"318\" srcset=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2025\/03\/62-67c9a52fd7b56.webp 888w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2025\/03\/62-67c9a52fd7b56-300x190.webp 300w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2025\/03\/62-67c9a52fd7b56-768x486.webp 768w\" sizes=\"(max-width: 502px) 100vw, 502px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>PM-SYM<\/b><span style=\"font-weight: 400;\"> is a <\/span><b>voluntary and contributory pension scheme<\/b><span style=\"font-weight: 400;\"> aimed at providing <\/span><b>financial security<\/b><span style=\"font-weight: 400;\"> to workers in the <\/span><b>unorganised sector<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Launched in <\/span><b>Interim Budget 2019<\/b><span style=\"font-weight: 400;\"> by the <\/span><b>Ministry of Labour and Employment<\/b><span style=\"font-weight: 400;\"> as a <\/span><b>Central Sector Scheme<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Life Insurance Corporation of India (LIC)<\/b><span style=\"font-weight: 400;\"> is the <\/span><b>Pension Fund Manager along with\u00a0 CSC eGovernance Services India Limited (CSC SPV)<\/b><span style=\"font-weight: 400;\">,\u00a0 are responsible for managing contributions and disbursing pensions.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Key Features of the Scheme<\/b><\/span><\/h2>\n<ul>\n<li><b>Eligibility Criteria: <\/b><span style=\"font-weight: 400;\">Workers in the <\/span><b>unorganised sector<\/b><span style=\"font-weight: 400;\"> with a <\/span><b>monthly income of up to \u20b915,000<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">Age limit for enrolment: <\/span><b>18 to 40 years<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>Exclusions:<\/b>\n<ul>\n<li><span style=\"font-weight: 400;\">Income taxpayers.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Those covered under <\/span><b>EPF, ESIC, or NPS<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Individuals already receiving <\/span><b>government pension benefits<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li><b>Pension and Contribution Structure: <\/b><span style=\"font-weight: 400;\">Assured pension of <\/span><b>\u20b93,000 per month<\/b><span style=\"font-weight: 400;\"> after <\/span><b>60 years of age<\/b><span style=\"font-weight: 400;\">.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Workers contribute a fixed amount <\/span><b>based on age at enrolment<\/b><span style=\"font-weight: 400;\">, ranging from <\/span><b>\u20b955 per month (at age 18) to \u20b9200 per month (at age 40)<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The <\/span><b>government matches the worker\u2019s contribution<\/b><span style=\"font-weight: 400;\"> on a <\/span><b>1:1 basis<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Family Pension:<\/b><span style=\"font-weight: 400;\"> After the subscriber\u2019s death, the spouse receives <\/span><b>50% of the pension amount<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.7995%;\">\n<tbody>\n<tr>\n<th style=\"width: 100%; border-style: solid; border-color: #000000; background-color: rgba(184, 165, 217, 0.53); text-align: left; vertical-align: middle;\">\n<h2><span style=\"font-size: 18pt; color: #000000;\"><b>About Unorganised Sector in India<\/b><\/span><\/h2>\n<ul>\n<li><span style=\"color: #000000;\"><b>Definition:<\/b><span style=\"font-weight: 400;\"> The unorganised sector includes rural and urban labour engaged in small and family enterprises with minimal government regulation.<\/span><\/span>\n<ul>\n<li><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Employment is<\/span><b> casual, seasonal, and lacks job security <\/b><span style=\"font-weight: 400;\">due to scattered workplaces and absence of trade unions.<\/span><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #000000;\"><b>Examples of Unorganised Sector Workers:<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/span>\n<ul>\n<li><span style=\"font-weight: 400; color: #000000;\">Agricultural labourers, handloom workers and powerloom workers.<\/span><\/li>\n<li><span style=\"font-weight: 400; color: #000000;\">Rag pickers, beedi workers, cine workers, salt workers and ship-breaking workers.<\/span><\/li>\n<li><span style=\"color: #000000;\"><b>Sericulture, coir, khadi industries, and small-scale industries.<\/b><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"color: #000000;\"><b>Contribution to the Economy<\/b><\/span><\/li>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">The unorganised sector<\/span><b> contributes around\u00a0 50% to the national income.<\/b><\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"color: #000000;\"><span style=\"font-weight: 400;\">Over 30.51 crore unorganised workers registered on the<\/span><b> e-Shram portal (2024).<\/b><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n<ul>\n<li aria-level=\"1\"><b>Exit Options:<\/b>\n<ul>\n<li><b>Before 10 years:<\/b><span style=\"font-weight: 400;\"> Refund of the contributed amount <\/span><b>with savings bank interest<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>After 10 years but before 60 years:<\/b><span style=\"font-weight: 400;\"> Refund with <\/span><b>accrued interest<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><b>If both subscriber and spouse pass away:<\/b><span style=\"font-weight: 400;\"> The entire <\/span><b>corpus is credited back to the pension fund<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Enrolment Process:<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Aadhaar-based registration<\/b><span style=\"font-weight: 400;\"> through <\/span><b>Common Service Centres (CSCs)<\/b><span style=\"font-weight: 400;\"> or the <\/span><b>Maandhan portal<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Contributions are made via <\/span><b>auto-debit<\/b><span style=\"font-weight: 400;\"> from a <\/span><b>savings bank or Jan-Dhan account<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Implementation and Current Status<\/b><\/span><\/h2>\n<h4><span style=\"font-size: 15pt;\"><b>Coverage and Enrolment<\/b><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Implemented across 36 States\/UTs<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Total <\/span><b>enrolments as of March 2025:<\/b> <b>46,12,330<\/b><span style=\"font-weight: 400;\"> workers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Top 3 States with highest enrolments:<\/b> <b>Haryana, Uttar Pradesh, Maharashtra<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Recent Enhancements in the Scheme<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Extended account revival period<\/b><span style=\"font-weight: 400;\"> from <\/span><b>one year to three years<\/b><span style=\"font-weight: 400;\"> for workers facing financial difficulties.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Integration with the e-Shram portal<\/b><span style=\"font-weight: 400;\"> for better tracking and accessibility.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Awareness campaigns<\/b><span style=\"font-weight: 400;\"> via SMS, government communication, and social media.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>&#8220;Donate-a-Pension&#8221; initiative<\/b><span style=\"font-weight: 400;\"> to allow employers to contribute on behalf of workers.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Conclusion<\/b><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The <\/span><b>PM-SYM scheme<\/b><span style=\"font-weight: 400;\"> is a <\/span><b>significant step towards financial security<\/b><span style=\"font-weight: 400;\"> for India\u2019s <\/span><b>unorganised workforce<\/b><span style=\"font-weight: 400;\">. By ensuring a <\/span><b>minimum pension<\/b><span style=\"font-weight: 400;\">, providing <\/span><b>flexible contribution options<\/b><span style=\"font-weight: 400;\">, and introducing <\/span><b>new outreach efforts<\/b><span style=\"font-weight: 400;\">, the government aims to <\/span><b>expand coverage and create an inclusive social security system<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div class=\"vc_table_green\"><\/p>\n<table style=\"width: 99.6375%;\">\n<tbody>\n<tr>\n<td style=\"width: 111.19%; text-align: center;\" colspan=\"2\"><span style=\"font-size: 18pt;\"><b>Also Read<\/b><\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/editorial-analysis\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Editorials<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/daily-current-affairs\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Daily Current Affairs<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/quiz\/\" target=\"_blank\" rel=\"noopener\"><b>Daily Current Affairs Quiz<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/mains-answer-writing\/\" target=\"_blank\" rel=\"noopener\"><b>Daily Main Answer Writing<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-previous-year-papers?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Previous+Year+Papers\" target=\"_blank\" rel=\"noopener\"><b>Check Out Previous Years Papers From PW Store<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/pwonlyias.com\/stage\/upsc-test-series-courses\/\" target=\"_blank\" rel=\"noopener\"><b>UPSC Test Series<\/b><\/a><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 49.797%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-textbooks?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Textbooks\" target=\"_blank\" rel=\"noopener\"><b>Check Out UPSC NCERT Textbooks From PW Store<\/b><\/a><\/td>\n<td style=\"width: 61.393%; text-align: center;\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-modules?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Modules\" target=\"_blank\" rel=\"noopener\"><b>Check Out UPSC Modules From PW Store<\/b><\/a><b>\u00a0<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government has introduced new features and expanded outreach efforts to improve the implementation of the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) scheme.<\/p>\n","protected":false},"author":11,"featured_media":157856,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[2084],"subject":[4632,2124],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/157876"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/current-affairs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=157876"}],"version-history":[{"count":1,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/157876\/revisions"}],"predecessor-version":[{"id":157880,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/157876\/revisions\/157880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media\/157856"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=157876"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=157876"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=157876"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=157876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}