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- Recently, the Union Labour and Employment Ministry launched the “donate a pension” scheme allowing any citizen to pay the premium amount on behalf of an unorganised worker under the Pradhan Mantri Shram Yogi Maan-Dhan Scheme.
About
- The scheme allows a citizen to “donate the premium contribution of their immediate support staff such as domestic workers, drivers, helpers, care givers, nurses in their household or establishment.
- The donor can pay the contribution for a minimum of one year, with the amount ranging from ?660 to ?2,400 a year depending on the age of the beneficiary, by paying through maandhan.in or visiting a Common Service Centre.
About Pradhan Mantri Shram Yogi Maan-Dhan Scheme
- About:
- The Government of India has introduced a pension scheme namely PM-SYM for unorganised workers to ensure old age protection for Unorganised Workers.
- Fund Management: PM-SYM is a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and CSC e Governance Services India Limited (CSC SPV).
- It is a voluntary and contributory pension scheme on a 50:50 basis where prescribed age-specific contribution shall be made by the beneficiary and the matching contribution by the Central Government as per the chart.
- For example, if a person enters the scheme at an age of 29 years, he is required to contribute Rs 100/ – per month till the age of 60 years an equal amount of Rs 100/- will be contributed by the Central Government.
- Eligibility:
- The unorganised workers mostly engaged as home based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations whose monthly income is Rs 15,000/ per month or less and belong to the entry age group of 18-40 years.
- They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO).
- He/she should not be an income tax payer.
- Benefits:
- 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 pension, if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension. Family pension is applicable only to spouses.
- If a beneficiary has given regular contribution and died due to any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.
- 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.
What is an Unorganised /Informal sector?
- Small & scattered units o/s the govt. Control. No legitimate provisions for work.
- Around 80% of India’s labour force is employed in the informal sector.
Government Initiatives
- E Shram Portal (database for unorganised sector workers)
- Unorganised Workers’ Social Security Act, 2008
- PM Jeevan Jyoti & Bima Yojana
- Ayushman Bharat
- MGNREGA
- Pradhan Mantri Garib Kalyan Yojana / Package
Source:TH
