Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM)

The Government of India introduced Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM) for unorganized workers to provide them with a monthly pension income. It is a voluntary pension scheme based on equal contributions from beneficiaries and the government. 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. 

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.

An Unorganized Worker (UW) is defined as a person working in the unorganized sector or an employee of organized sector who is not covered under any Acts mentioned under Schedule-II. Some of the notable acts under this schedule are the Payment of Gratuity Act, Employee’s State Insurance Act, and EPF Act.

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.
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Eligibility Criteria

To enrol in the PM Shramyogi Maandhan Yojana, one must meet the following criteria:

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 The Shramyogi must possess the following documents:
  • Aadhar Card issued by UIDAI
  • Savings bank account details

Benefits of PM Shram Yogi Maandhan Yojana

The PMSYM provides the beneficiaries with financial assistance in their old age or upon disablement. Let us learn the specific conditions in the table below:

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?

The unorganised workers can enrol in the Pradhan Mantri Shramyogi Maandhan Yojana in the following way:

Method- I: 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.

Wrapping It Up

Employment in unorganised sectors brings in irregular income flow making the workers and their family’s lives financially vulnerable. PMSMY benefits such people. It is important for those people to invest in the scheme who want to secure funds for future. PMSMY is a scheme for all employees of unorganized sector.


  • How do I check my PMSYM balance?

    To check the Pradhan Mantri Shramyogi Maandhan Yojana, the subscriber can do the following:
    • Call a toll-free number: 1800 267 6888
    • Visit the websites: OR
  • 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

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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