PM Shram Yogi Maan Dhan Yojana

Question 1

Which ministry has launched this scheme ?

Answer 1

Union Ministry of Labour and Employment (announced in the Interim Budget)

Question 2

What type of scheme is it ?

Answer 2

Voluntary and Contributory pension scheme for Unorganised sector only

Question 3

What is the eligible entry age group ?

Answer 3

18-40yrs

Question 4

Who are all eligible for this scheme ?

Answer 4

Unorganised sector workers with income less than 15k/month and in the age group of 18-40yrs

Question 5

What are the other 2 important conditions ?

Answer 5

1) Workers should not be covered under New Pension Scheme (NPS) , ESIC or Employees PF Organisation (EPFO)
2) He or she shouldnt be an income tax holder

Question 6

What are the benefits under the scheme ?

Answer 6

1) Min Assured Pension – 3000/month after attaining 60yrs
2) In case of death during receipt of pension —- His or her spouse to receive 50% as family pension
3) In case of death before 60yrs —- His or her spouse may continue or exit from the scheme

Question 7

How is the contribution to the scheme distributed ?

Answer 7

Equal from the subscriber and Central Govt

Question 8

What is the medium of contribution for the subscriber ?

Answer 8

Auto debit facility from his/her savings bank account or from JAN DHAN account