GoI’s PM-SYM Yojana Strengthens Financial Security for Millions of Unorganised Workers.

National

Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Yojana is a significant initiative launched by the Government of India (GoI) to provide financial security to millions of unorganised workers in India. It is a part of the Government’s broader social security efforts and supports the goal of providing universal pension coverage for workers in the unorganised sector.


      - The scheme is specifically designed for workers in the unorganised sectors, which contribute 50% of the country’s Gross Domestic Product (GDP).

      - It is a voluntary and contributory pension scheme, aimed at offering social security to unorganised workers.

     

Main Point :-   (i) The scheme ensures a minimum pension of Rs 3,000 per month after the age of 60 for workers who are part of the unorganised sector and earn up to Rs 15,000 per month.

      (ii) The scheme is overseen by the Ministry of Labour and Employment (MoL&E), in collaboration with Life Insurance Corporation of India (LIC) and Common Services Centres e-Governance Services India Limited (CSC SPV), to ensure smooth implementation.

(iii) As of December 31, 2024, more than 30.51 crore unorganised workers were registered on the e-Shram portal.

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