Pension for unorganised workers – PM’s Shram Yogi Maan Dhan Yojana

4 Feb 2019

Pension for unorganised workers – PM’s Shram Yogi Maan Dhan Yojana

Finance Minister Piyush Goyal in his budget speech has announced a new pension scheme for country’s unorganised work force. This is the Pradhanmantri Shram Yogi Maan Dhan Yojana, In India informal sector employs more than 90% of the country’s workforce.

The scheme will be applicable for unorganised workers with monthly income of up-to Rs 15,000.
 	A total amount of Rs 500 crore has been allocated for the Scheme. This scheme shall provide an assured monthly pension of Rs 3,000 from the age of 60 years. 
 	A worker joining the scheme at the age of 29 years will have to contribute Rs 100 per month till the age of 60 years. A worker joining the scheme at 18 years, will have to contribute Rs 55 per month. Government will deposit equal matching share in the pension account of the worker every month.
 	Within next five years at least 10 crore labourers and workers in the unorganised sector will avail the benefit of the scheme, making it one of the largest pension schemes of the world.

Recommended for Middle Grades

Finance Minister Piyush Goyal in his budget speech has announced a new pension scheme for country’s unorganised work force. This is the Pradhanmantri Shram Yogi […]

To read more...

Share your comment! Cancel reply

You must be logged in to post a comment.

To post your comment Login/Signup