Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM)

The PM Modi 3000 Pension Scheme, officially known as Pradhan Mantri Shram Yogi Maandhan (PMSYM), is a government scheme for social security and retirement protection for Unorganized Workers. The scheme aims to ensure social security and financial stability of the persons employed in the unorganised sector during their old age.

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What is PMSYM?

Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM) is a monthly pension scheme meant to offer financial protection and social security to Unorganized Workers (UW) in their old age. PMSYM is a voluntary pension scheme for India's approximately 42 crore Unorganized Workers (UW) (like street vendors and domestic workers), in recognition of their major contribution to the GDP. This scheme provides a minimum assured pension of ₹3,000 per month after the age of 60.

The Unorganized Worker (UW) saves a part of their monthly income to the PMSYM scheme during their prime years of employment. The government also contributes an equal sum to the pension fund of the worker.

Features of PM Shram Yogi Maandhan Yojana (PMSYM)

Let us understand some important features of the PMSYM scheme in the table below:

Features of PMSYM	Details
Scheme by	Government of India
Administered by	Ministry of Labour and Employment
Implemented by	Life Insurance Corporation of India (LIC) and CSC e-Governance Services India Limited
PMSYM Fund Manager	Life Insurance Corporation of India (LIC)
Nature of Scheme	Central Sector Scheme (contribution made by the government is made wholly by Centre and not by State Government) Voluntary scheme Unorganised worker pays a fixed amount towards Shram Yogi Maandhan account Central government contributes an equal amount to the Shram Yogi Maandhan pension fund
Who can Apply	Unorganised Workers (UW)
Minimum Pension Assured	The minimum assured Shram Yogi Maandhan is: At age 60 years: Minimum Rs. 3000/month Shramyogi dies after 60 years of age: 50% of the assured maandhan as family pension is provided only to the spouse Shramyogi dies before 60 years of age: The spouse of the subscriber can continue to make regular payments in the PM SYM pension account OR exit and withdraw the pension fund amount
Payment method to PMSYM	The unorganised worker should allow their banks to monthly Auto Debit their part of the contribution from their savings account or Jan-Dhan account on a fixed date The contributions to PMSYM can be made in the frequency: Monthly, Quarterly, Half-annually, or Annually
Other Facilities	No pension fund administration charges to beneficiaries Availability of Nomination facility
Beneficiaries	PMSYM benefits approximately 42 crores workers working in unorganized sectors like: Street vendors, rickshaw pullers, mid-day meal workers, construction workers, rag pickers, rag pickers, bangle makers, domestic workers, agricultural workers, etc.

Eligibility Criteria For Pradhan Mantri Shram Yogi Maandhan

Here are the eligibility criteria for the PM Modi 3000 Pension Scheme and an individual must satisfy all of the following conditions to be eligible for the PMSYM scheme:

Eligibility Criteria	Details
Beneficiaries	Unorganised Workers (UW)
Entry Age	Between 18-40 years of age
Contribute to PMSYM Until	Pay till 60 years of age
Pension Payout Age	From 60 years of age
Income Limit	Up to Rs. 15,000/month
Instalment Amount	Between Rs. 55- Rs. 200 (depending on the entry age of the subscriber)
Not Eligible if	The worker is not eligible to enrol into PMSYM Scheme if: Member of EPF/ NPS/ ESIC Schemes of Central Government Pays income tax

Documents Required for PM Modi 3000 Pension Scheme

To complete registration for PM Shram Yogi Maandhan, the following are required:

Identity Proof: Aadhaar Card
Financial Details: Bank details of a Savings Bank Account or Jan Dhan Account with the IFSC Code.
Contact: A valid Mobile Number

Benefits of PM Shram Yogi Maandhan Yojana

The Pradhan Mantri Shram Yogi Maandhan (PMSYM) is a vital scheme providing a strong social security net to workers in the unorganised sector, ensuring financial dignity in their old age. Here are some more benefits of the PM Modi 3000 Pension Scheme:

Benefit	Conditions	Details
Pension Benefits	Pay regular instalments between Rs. 55- Rs. 200 till the 60 years of age The amount of instalments in Shram Yogi Maandhan account depends on the entry age (18-40 years) of the unorganised worker	From age of 60 years: The beneficiary will get a minimum of Rs. 3000/month as an assured pension If the subscriber dies after 60 years of age: Only the Spouse of the subscriber can get 50% of the assured amount as a family pension
On Disablement	Regular contribution to the Shram Yogi Maandhan account but couldn’t pay now upon permanent disablement	If permanent disablement before age of 60 years The spouse may continue to contribute to the Shramyogi Maandhan Yojana with regular benefits The subscriber can choose to exit from the Maandhan Yojana (benefits in next section)
On Exit from PMSYM	If the subscriber chooses to exit from the Maandhan Yojana due to: Unemployment due to the irregular nature of jobs Permanent disability Demise of the subscriber	Exit in <10 years of joining PMSYM: The deposited contribution amount (excluding the government’s contribution) with interest at the savings bank rate is provided Exit on >10 years of joining PMSYM but before 60 years of age: The deposited contribution with a higher interest rate of Shram Yogi Maandhan pension fund or savings bank rate is provided

Note: Upon the demise of both the subscriber and their spouse, the Shram Yogi Maandhan Fund corpus is credited back to the PMSYM funds.

How to Apply for PMSYM?

To apply for the Modi 3000 pension scheme online, you need to follow the steps mentioned below:

PM-SYM Online Enrollment Steps

Visit the Official Portal: Go to the Maandhan portal at maandhan. In.
Start Enrollment: Click on the "Click Here to Apply Now" button, and then select the "Self-Enrollment" option.
Verify Mobile Number: Enter your mobile number and click "Proceed" to receive an OTP for verification.
Complete Application: Fill out the online registration form. You will need your:
- Aadhaar number
- Personal details (Name, Address, DoB)
- Bank Account information
Set up Auto-Debit and Pay: Set the auto-debit facility from your bank account and make your first contribution.

This process completes your enrollment, and your monthly contribution will be automatically deducted from your account.

What are the Eligibility Criteria For Pradhan Mantri Shram Yogi Maandhan

Here are the eligibility criteria for the PM Modi 3000 Pension Scheme. An individual must satisfy all of the following conditions to be eligible for the PMSYM scheme:

Age: Must be in the age bracket of 18 to 40 years.
Income: Monthly income must be ₹15,000 or less.
Employment: Must be an unorganised sector worker (USW).
- Examples include: Street vendors, rag pickers, construction workers, agricultural labourers, domestic help, weavers, artisans, fishermen, and beedi workers.

Exclusions:

They should not be engaged in the Organized Sector (member of EPFO/NPS/ESIC) or,
An income tax payer

Method- 2: Visiting Common Service Centre (CSC)

Step 1: Visit nearby CSC e-Governance Special Purpose Vehicles (SPVs).

Step 2: Provide all the relevant documents at the CSC to help them register your enrolment:

Aadhar Card
Savings account/ Jan-Dhan account details (Account passbook/ Cheque leaflet/ bank account statement)
IFSC code of the savings bank account

Step 3: Pay in cash the initial contribution sum to the Village Level Entrepreneur (VLE) at the CSC.

Step 4: The VLE fills in the required details to authenticate the subscriber:

Aadhar number
Name of the subscriber
Date of Birth (DoB)

Step 5: Upon authentication of the subscriber, the VLE fills in the following details to register the subscriber:

Mobile number
Email id
Details of Spouse
Bank account details
Details of Nominee

Step 6: The subscriber self-certifies to fulfil the eligibility criteria.

Step 7: The PMSYM registration system will display the automatically calculated monthly contribution based on the entry age of the subscriber.

Step 8: The subscriber pays in cash the 1st subscription instalment to the VLE.

Step 9: The subscriber signs the print copy of the enrolment form and the form mandating auto-debit of instalments.

Step 10: The VLE scans the application form and uploads it to the PMSYM system.

Step 11: The system generates a unique Shramyogi Pension Account Number (SPAN). The VLE will print and give the Shram Yogi Maandhan Card to the subscriber.

How to PMSYM Balance Check?

You can check your PMSYM account balance in various ways:

Online through the Maandhan Portal

The most direct way is via the official web portal:
- Website: Go to the Maandhan portal at maandhan.in
- Login: Log in to your subscriber account.
- Service: Navigate to the service option that allows you to "View Statement of Account" or "Download Statement". This statement shows the history of your monthly contributions and the matching Government contribution.
Via the UMANG App

The steps for the PMSYM account balance check number app:
- Search: Open the app and search for "Pradhan Mantri Shram Yogi Maandhan (PMSYM)".
- Access: Under the PM-SYM services, you will find an option to "View Statement of Account".
Through the Toll-Free Helpline

For quick information or assistance, below is the the pmsym account balance check number:
- Call: You can call the PM-SYM Toll-Free Number: 1800 267 6888
- IVR instructions: Follow the IVR instructions to inquire about your account status or contribution history.

Wrapping It Up

The Pradhan Mantri Shram Yogi Maandhan (PMSYM) is a vital, voluntary, and contributory pension scheme for the unorganised sector. Recognizing that employment in this sector often leads to an irregular income flow, the scheme is crucial for future financial security. The primary benefits include a Minimum Assured Pension of ₹3,000 per month after age 60, a Matching Contribution from the Government, and a Family Pension provision for the spouse. Subscribers can perform a PMSYM account balance check and view their Statement of Account conveniently through the official Maandhan portal or the UMANG app.

FAQ's

Q. What is the PM Modi 3000 Pension Scheme?

The Pradhan Mantri Shram Yogi Maandhan (PMSYM) Scheme, often popularly referred to as the 'PM Modi ₹3,000 Pension Scheme,' is the flagship government initiative providing social security and retirement protection to workers in the unorganised sector.
How do I check my PMSYM balance?
For pmsym account balance check, the subscriber can do the following:
- Call a toll-free number: 1800 267 6888
- Visit the websites: vyapari@gov.in OR shramyogi@nic.in
Q. What is the PMSYM account balance check number app?

The primary and most recommended mobile app for checking your PMSYM account details is the UMANG app.
What is the monthly contribution for PMSYM?

The monthly contribution for PMSYM ranges between Rs. 55 to Rs. 200 per month. The fixed monthly amount is decided based on the entry age of the subscriber.
How do I withdraw from PMSYM?

To exit from the PMSYM Maandhan Yojana, the subscriber (spouse upon the death of the subscriber) can go to their nearby CSC centre or LIC office. Submit a Shramyogi Maandhan Yojana cancellation form while mentioning appropriate reasons. Withdraw the exit pension funds upon closure of the Maandhan Yojana.
Who is eligible for an e-Shram pension?
The eligibility criteria for the PMSYM e-Shram pension are:
- Unorganised workers (e.g. rag pickers, cobblers, street vendors, rickshaw pullers, carpenters, etc.)
- Entry age: 18-40 years
- Monthly income limit: Maximum Rs. 15000/month
- Not a member of ESI/ EPF/ NPS funds
- Not a taxpayer

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