Implementation of PM-SYM scheme; unorganized sector’s workers advised

Port Blair, Feb 23: The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) Yojana is being implemented in the Islands together with the rest of the country. PM-SYM is a voluntary contributory pension scheme. Any worker in the unorganized sector, whose monthly income is up to Rs.15,000/- and who is between18-40 years of age shall be eligible to enroll into the PM-SYM pension scheme. He/she shall receive an assured monthly pension of Rs.3,000/-  after attaining the age of 60 years for which he/she shall deposit a nominal monthly subscription ranging from Rs.55/- to Rs.200/- depending on the entry age. The Central Government shall also deposit equal matching share of monthly subscription in his pension account. The facilitation counters/desks have been set up in all the UT Administration Labour Offices, in the Office of Asst. Labour Commissioner (Central) and LIC Branch Office, ESIC and EPFO office to provide the information about the scheme, its benefits and the procedure to be followed for enrollment. The unorganized workers will be required to visit the nearest Common Service Centre (CSC) and get enrolled for PM-SYM using AADHAR Card and Saving Bank/Jan-Dhan account number on self certification basis. The first subscription is to be paid in cash and auto debit from next month onwards. The LIC will be the responsible for Pension pay out as Direct Benefit Transfer.

The State and Central Labour Department, EPFO, LIC, ESIC shall jointly conduct awareness camps to sensitize the unorganized workers to get their names enrolled with nearest CSC for the old age protection and social security across the Islands. It appealed to all the unorganized workers, who are not covered so far under EPFO/ESIC/NPS Scheme, to enroll their names for availing the pension scheme by paying a nominal monthly subscription.


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