With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yoj

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

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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?

1, 3 and 4

2 and 3 only

2 only

1, 2 and 4

Answer is Right!

Answer is Wrong!

This question was previously asked in

UPSC IAS – 2024

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Statement 1 is incorrect; the entry age for PM-SYM Yojana is 18 to 40 years, not 21 to 40. Statement 2 is correct; the monthly contribution by the beneficiary is indeed age-specific. Statement 3 is correct; the scheme guarantees a minimum monthly pension of ₹3,000 after attaining the age of 60 years. Statement 4 is incorrect; family pension is applicable only to the spouse (receiving 50% of the pension) upon the death of the subscriber, not also to unmarried daughters.

PM-SYM is a voluntary and contributory pension scheme for unorganized workers, providing a minimum assured pension of ₹3000 after age 60 with age-specific contributions.

The scheme is jointly funded by the beneficiary and the Central Government, with equal contributions. It targets unorganized sector workers with monthly income below ₹15,000 and who are not covered by other statutory social security schemes. Family pension rules under PM-SYM specifically mention the spouse as the beneficiary upon the death of the subscriber.

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