The Ministry of Labour and Employment has rolled out Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) and it will come into effect from today. The scheme announced in the Interim Budget was notified by the Ministry recently. Around 42 crore workers are estimated to be engaged in the unorganized sector of the country.
Following are the Salient Features of PM-SYM:
- 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.
- Family Pension: During the receipt of the pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as the family pension. Family pension is applicable only to a spouse.