PM Shram Yogi Mandhan Yojana: Eligibility, Login, Check Balance & Status

The Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM) is a government-backed pension scheme tailored for workers in the unorganized sectors of India. This article delves into the specifics of the scheme, detailing eligibility, registration processes, benefits, and how to manage accounts effectively.

Also Read: Karnataka Raitha Samruddhi Yojana: Eligibility Criteria, Documents & Steps to Register

What is the Prime Minister’s Shram Yogi Maandhan Scheme?

Initiated by the central government, the PMSYM aims to provide social security to informal workers by ensuring a fixed monthly pension after retirement. Recognizing the vulnerability of these workers who lack formal pension plans, the scheme targets individuals from 18 to 40 years of age, offering them a safety net in their senior years. The administration of the scheme is handled through the Life Insurance Corporation of India (LIC), with enrollment facilitated via Common Services Centres (CSC).

Who can apply for the Pradhan Mantri Shram Yogi Maandhan Yojana?

Eligibility for PMSYM is specifically designed for low-income workers in the unorganized sector:

• Age: Applicants must be between 18 and 40 years old at enrollment.
• Income: Monthly income should not exceed ₹15,000.
• Sector: The applicant must be working in the unorganized sector, which includes a broad range of jobs from street vending to home-based work.
• Financial Exclusions: Applicants should not be taxpayers or participants in other formal government pension schemes like EPFO, ESIC, or the NPS.

Features of PMSYM

Voluntary Contributions:

Participants voluntarily contribute a monthly amount, which is then matched by the government, doubling the investment towards the pension fund.

Retirement Benefits:

Upon reaching the age of 60, participants receive a guaranteed pension of ₹3,000 per month, providing financial stability in retirement.

Spouse Benefit:

In the unfortunate event of the participant’s death, the spouse is entitled to receive 50% of the pension amount, ensuring ongoing support.

Benefits of PMSYM

• Financial Security in Retirement: A secure and stable pension post-retirement.
• Government Matching: Contributions are matched by the government, ensuring the pension pot grows efficiently.
• Easy Accessibility: Available through CSCs across India, making it easy for unorganized workers to enroll and manage their contributions.

Eligibility of PMSYM

To be eligible, individuals must:

1. Be employed in the unorganized sector.
2. Be within the age group of 18 to 40 years.
3. Have a monthly income of ₹15,000 or less.
4. Not be covered under other social security schemes or be a taxpayer.

Contributions made towards PMSYM

Contributions are based on the age of entry and are auto-debited from the participant’s bank account. The government matches each contribution, effectively doubling the monthly deposit into the pension fund. The detailed contribution rates based on entry age are shown in the table below. This dual contribution continues until the participant reaches the age of 60.

Entry Age (Years)	Years until 60	Member’s Monthly Contribution (₹)	Government’s Monthly Contribution (₹)	Total Monthly Contribution (₹)
18	42	55	55	110
19	41	58	58	116
20	40	61	61	122
21	39	64	64	128
22	38	68	68	136
23	37	72	72	144
24	36	76	76	152
25	35	80	80	160
26	34	85	85	170
27	33	90	90	180
28	32	95	95	190
29	31	100	100	200
30	30	105	105	210
31	29	110	110	220
32	28	120	120	240
33	27	130	130	260
34	26	140	140	280
35	25	150	150	300
36	24	160	160	320
37	23	170	170	340
38	22	180	180	360
39	21	190	190	380
40	20	200	200	400

How to register and apply for Pradhan Mantri Shram Yogi Mandhan Yojana?

CSC Registration (Offline):

1. Locate a CSC: Visit the nearest Common Services Centre.
2. Documentation: Provide Aadhar card, bank account details, and mobile number.
3. Verification: CSC will verify your documents and details.
4. Contribution: Pay the first contribution in cash.
5. Enrollment: The VLE will register you and provide a pension account number and a pension card.

Online Self-registration:

1. Access the Portal: Visit the official MAANDHAN portal and select ‘self-enrollment’.
2. Mobile Verification: Enter your mobile number and verify it via OTP.
3. Provide Details: Fill in the required details including Aadhar number, bank account information, and nominee details.
4. Submit and Print: Submit the application and take a printout for records.

What are the documents required for Pradhan Mantri Shram Yogi Mandhan Yojana Registration?

• Aadhar Card: For identity verification.
• Bank Account Details: Account must be linked to Aadhar for auto-debit.
• Mobile Number: For communication and OTP verification.

How to check the PMSYM balance?

• UMANG App: Login with your registered mobile number, navigate to the PMSYM section, and check the balance and transaction history.

In case of payment failure

• Regularize Contributions: Make up for missed contributions at your CSC or through the UMANG app, including any applicable fines for delayed payments.