Economy
2024
Government Schemes
Poverty and Unemployment

With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements:

  1. The entry age group for enrolment in the scheme is 21 to 40 years.
  2. Age specific contribution shall be made by the beneficiary.
  3. Each subscriber under the scheme shall receive a minimum pension of ₹ 3,000 per month after attaining the age of 60 years.
  4. Family pension is applicable to the spouse and unmarried daughters. Which of the statements given above is/are correct?

C.2 only
D.1, 2 and 4
A.1, 3 and 4
B.2 and 3 only

Correct Answer: Option B

The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana aims to provide old age protection and social security for Unorganised Workers (UW). These include rickshaw pullers, street vendors, mid-day meal workers, and others in similar occupations.

Key features of the scheme:

  • It is a voluntary and contributory pension scheme.
  • Subscribers receive a minimum assured pension of ₹3,000 per month after attaining the age of 60 years.
  • If the subscriber dies, the spouse is entitled to 50% of the pension as family pension. This is only applicable to the spouse.
  • The eligible age group for enrolment is 18 to 40 years, with a monthly income of ₹15,000 or below.
  • Beneficiaries make age-specific contributions.

Based on these features:

  • Statement 1 is not correct. The entry age is 18-40 years, not 21-40 years.
  • Statement 2 is correct. Age-specific contributions are required.
  • Statement 3 is correct. A minimum pension of ₹3,000 is assured after 60 years.
  • Statement 4 is not correct. Family pension applies only to the spouse.

Hence, only statements 2 and 3 are correct.