Note: Any provisions on the implementation of the Scheme covered in the Pradhan Mantri Shram Yogi Maandhan Yojana, but not covered in the National Pension Scheme for Traders and Self Employed Persons Yojana, shall also be applicable to the National Pension Scheme for Traders and Self Employed Persons and vice versa.
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Pradhan Mantri Shram Yogi Maandhan Yojana (FAQ):
What is Pradhan Mantri Shram Yogi Maandhan Yojana?
Pradhan Mantri Shram Yogi Maandhan is a voluntary and contributory Pension Scheme for Unorganized Workers for entry age of 18 to 40 years with monthly income of Rs.15000 or less.
Who can subscribe this Scheme?
Any unorganized worker in the age group of 18-40 years, whose job is casual in nature , such as home based workers, street vendors, head loaders, brick kiln, cobblers, rag pickers, domestic workers, washer-men,
Rickshaw Pullers, Rural landless laborers, own account workers, agricultural workers,
construction workers, beedi workers, handloom workers, leather workers, etc. with monthly income less than Rs 15,000/-
The worker should not be covered under any statutory social security schemes such as National Pension Scheme (NPS), Employees’ State Insurance Corporation scheme, Employees’ Provident Fund Organization Scheme and is not an income tax payee.
What is the benefit of this Scheme?
If any Unorganized worker subscribes the scheme and has paid regular contribution up to the age of 60 years, he will get a minimum monthly pension of Rs. 3000/-. After his/ her death, spouse will receive a monthly family pension which is 50 % of the pension.
How many years the beneficiary will contribute?
Once the beneficiary joins the scheme at the entry age between 18-40 years, he has to contribute till he attains the age 60 years.
How much pension would be received under the Scheme? At what age?
Under the Scheme, minimum pension is of Rs. 3000/- per month shall be paid. This pension will start on attaining the age of 60 years of the Beneficiary.
Who are not entitled to join this Scheme?
Under the scheme any worker who is covered under any statutory Social Security Scheme such as NPS, ESIC, EPFO and an income tax payee is not entitled to join the scheme.
Whether I have to give proof of my date of birth and income?
No separate proof of age or the income has to be given. Self Certification and providing of the Aadhaar number will be the basis for enrollment. However in case of any false declaration, may attract appropriate penalty.
What is the mode of contribution?
Primarily, the mode of contribution is on monthly basis by auto-debit. However, it will also have provisions of quarterly, half yearly and yearly contribution. First contribution is to be paid in cash at Common Service Centre.
Will there be any administrative cost?
There will be no administrative cost to the beneficiary as it is a purely Social Security Scheme of Government of India.
Whether nomination facility is there?
Yes, under the scheme, nomination facility is available. Beneficiary can nominate any one as nominee under the scheme.
What happens in case of death before the start of pension?
In such an event, if a beneficiary has given regular contribution and died due to any cause, his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution for the remaining period.
On completion of the contribution period, the spouse will receive a monthly pension of Rs. 3000/-. Alternatively, if the spouse so desires, the amount of the member’s contribution will be returned back to his/ her nominee with an interest equivalent to saving bank rates interest.
Are there any educational qualifications prescribed for becoming a Member of Pradhan Mantri Shram Yogi Maandhan?
No. There are no minimum educational qualifications necessary for joining the Scheme.
Whether any nomination facility (other than spouse) is available after the death of the beneficiary?
Spouse, if living, will automatically be the beneficiary of family pension on information of death and production of death certificate.
What are the documents that are to be submitted at the enrollment Centre?
The beneficiary has to provide Aadhar card, savings bank passbook and a Self-Certified form along with consent form for auto-debit facility.
Is the beneficiary required to pay the monthly contribution till the age of 60 years?
Yes. After joining the Scheme, the beneficiary has to pay the prescribed monthly contribution till the age of 60 years.
What is Pradhan Mantri Kisan Maandhan Yojana?
It is an old age pension scheme for all land holding Small and Marginal Farmers (SMFs) in the country.
It is a voluntary and contributory pension scheme for the entry age group of 18 to 40 years with a provision of payment of Rs. 3000/- monthly pension on attaining the age of 60 years, subject to certain exclusion criteria.
What is the definition of Small and Marginal landholder farmer?
A Small and Marginal landholder farmer is defined as a farmer who owns cultivable land upto 2 hectare as per land record of the concerned State/UT.
What are the benefits of the scheme?
Under the scheme, the beneficiary would receive the following benefits:
Minimum Assured Pension: Each beneficiary under the Pradhan Mantri Kisan Maandhan Yojana shall receive a minimum assured pension of Rs. 3000/- per month after attaining the age of 60 years.
Family Pension:During the receipt of pension, if the beneficiary dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension received by the beneficiary as family pension provided he/she is not already a beneficiary of the scheme. Family pension is applicable only to spouse.
If a beneficiary has given regular contribution and died of any cause (before age of 60 years), his/her spouse will be entitled to join and continue the scheme subsequently by payment of regular contribution or exit the scheme as per provisions of exit and withdrawal.
Who will act as Pension Fund Manager for the Scheme?
Life Insurance Corporation of India (LIC) shall be the Pension Fund Manager and responsible for Pension Pay-Out.
Whether the applicant farmers / their spouse will be charged any fee for enrollment under the Scheme?
The enrollment at CSC Centres is free of cost and the applicant farmers / their spouse shall not have to pay any charge for the purpose.
What is the alternative mechanism for registration of eligible beneficiary other than enrollment through CSC?
The eligible beneficiaries may alternatively also enrol themselves by contacting physically the State Nodal Officers (SNOs) (or agencies designated by them) in their respective districts.
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