Pradhan Mantri Shram Yogi Maandhan Yojana: Check Features, Eligibility Criteria & Benefits of (PMSYM)


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PMSYM, or Pradhan Mantri Shram Yogi Maandhan Yojana, has been introduced by the Government of India for the unorganized sector workers. The scheme aims at offering monetary stability and social security to the Unorganized Workers (UW) employed in the unorganized sector for their old age.

PMSYM is a pension scheme wherein the beneficiaries, as well as the central government, make equal contributions. The scheme allows an option for people employed in the unorganized sector to earn a monthly pension after turning 60 years of age. Let us look at the scheme’s benefits, eligibility criteria and other aspects.

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What is PMSYM?

PMSYM, or Pradhan Mantri Shram Yogi Maandhan Yojana, is a pension scheme intended to secure the financial situation of Unorganized Workers (UW) after their retirement during old age. Workers can save a portion of their income while they are earning so that they can get a return during their old age when they are unable to work. Under the scheme, equal contribution is made by the government of India along with the plan subscriber to help them save a decent amount as pension. The Unorganized Workers are people employed in the unorganized sector. It can also be a person working in the organized sector but without any cover under the acts cited under Schedule II of the scheme, such as the Employee’s State Insurance Act, EPF Act, Payment of Gratuity Act, etc.

Features of Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM)

Below are some important features of the PM Shram Yogi Maandhan Yojana:

PMSYM Features 


Scheme initiated by

Government of India

Scheme administered by

Labour and Employment Ministry

Scheme implemented by

Life Insurance Corporation of India (LIC) and CSC e-Governance Services India Limited

Fund manager of PMSYM

LIC of India

Scheme nature

It is a central government scheme since the contribution is made by the central government entirely with no contribution from the state government

It is a voluntary scheme where unorganized workers contribute a fixed amount

The government pays an equal amount like the unorganized worker

Who is eligible?

The plan is available for unorganized workers only

Minimum pension offered under the plan 

INR 3000 per month for applicants who are 60 years and above

If the insured dies after 60 years of age, the spouse is eligible to receive the benefit


If the insured dies before 60 years of age, the spouse can continue the plan by making regular contribution or may exit the plan and withdraw the pension amount

PMSYM payment method

The payment under the scheme is audited on a monthly basis from the bank account of the unorganized worker

The payment can be made on a monthly, quarterly, half-yearly and yearly basis

Other facilities

Beneficiary is not charged any administration fee for the pension fund

Nomination facility is available


The scheme is serving over 42 crore workers in the unorganized sector in India

Eligibility Criteria

Below are the eligibility criteria to enroll in the PM Shramyogi Maandhan Yojana:

Eligibility Criteria


Who are the beneficiaries

Unorganized workers

Age of entry

18 to 40 years
Age limit for contribution

Till 60 years

Age of getting pension payout

From 60 years onwards

Income limit

Up to INR 15,000 per month

Contribution Amount

Between INR 55 to INR 200 (as per the entry age of the worker)

Who is not eligible?

If the worker is a member of EPF/NPS/ESIC schemes offered by the union government

If the worker pays income tax

Documents required

Aadhar Card

Savings bank account details

Benefits of PM Shram Yogi Maandhan Yojana

The beneficiaries of the PM SYM yojana are offered financial aid when they are older, above 60 years of age or in case of any disability. Here are the specific conditions mentioned in the table below:




Pension benefit

The worker has to pay a regular contribution of INR 55 – 200 till they turn 60 years

Upon reaching 60 years, the beneficiary will receive an assured pension of INR 3000/month

In case of the death of the insured, the spouse can get 50% of the assured pension

Disablement benefit

If the worker stops contribution due to permanent disablement

In case the worker becomes permanently disabled before turning 60 years, the spouse can contribute the monthly installment to continue the scheme and to receive benefits

Else, the subscriber can exit from the policy

Exit Benefit

If the insured exit the plan due to unemployment or irregular pay at a job

Or due to permanent disability

Or due to the demise of the subscriber

If the worker exits before 10 years of joining PMSYM, they can avail the complete contribution amount with interest deposited at their bank account (excluding the govt. contribution)

If the worker exits the plan on or after the completion of 10 years, they receive the deposited contribution amount with high interest

Note that if both the applicant and the spouse die, the PMSYM amount is credited back to the PM SYM Scheme fund.

How to Apply for PMSYM?

To apply for PMSYM, the unorganized workers can follow the below steps:

Apply Through Common Service Centre (CSC)

Here are the steps:

  • The worker can visit the nearest CSC or Common Services Centre with their Aadhaar Card and Savings Bank account passbook
  • Provide all the relevant documents at the CSC to get registered such as;
    • Aadhar Card
    • Savings account/ Jan-Dhan account details
    • IFSC code (of savings account)
  • Pay the first installment in cash to the VLE or Village Level Entrepreneur at the CSC
  • The VLE will seek the below details to validate the subscriber;
    • Aadhar number
    • Subscriber name
    • Date of Birth (DoB)
  • Once the verification of the applicant is done, the VLE would require the below details to initiate the PM SYM registration process for the subscriber
    • Mobile number
    • Email id
    • Spouse details
    • Bank account details
    • Nominee details
  • The applicant has to self-certify the details of eligibility
  • The monthly contribution amount to be paid by the worker will be displayed automatically as per the entry age of the subscriber
  • The first installment has to be paid in cash by the subscriber to the VLE
  • The subscriber is required to sign the enrolment form along with the form that mandates auto-debit of monthly installment from the subscriber’s bank account
  • Once the above requirement is fulfilled, the application form is uploaded to the PMSYM system by the VLE after scanning it
  • The system will generate a SPAN number or Shramyogi Pension Account Number, which will be printed and offered as the Shram Yogi card to the subscriber

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To Sum Up

Since the employees of the unorganized sector do not have a regular flow of income, these workers and their family members stay vulnerable to financial instability. With PMSMY, these workers can get a certain amount of monetary security. By investing in the scheme, they can secure their future, especially for the time when they are unable to work.
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FAQs: Pradhan Mantri Shram Yogi Maandhan Yojana

How do I get my PMSYM account balance check?

PM SYM account balance can be checked by visiting the UMANG login portal and entering your registered mobile number. You can log in to the portal via an OTP sent to your mobile and check the PMSYM account balance there.

What is the process of Shram Yogi Maandhan Yojana online registration?

PM SYM online registration can be done through the CSC centre. Eligible applicants can visit the nearest CSC centre and make an initial contribution of funds to the Village Level Entrepreneur, who will guide them through the registration process. The process is mentioned in the post above.

What is the monthly contribution for PMSYM?

The monthly contribution for PMSYM is between INR 55 to INR 200, depending on the entry age of the workers.

What is e-Shram eligibility?

Any person working in an unorganized sector (unorganized worker) between 18-40 years old can apply for an e-Shram card.

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Aug 14, 2023
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PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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