Here’s How Much Contribution You Need To Make In PM-SYM To Earn Monthly Pension

PM-SYM or Pradhan Mantri Shram Yogi Maan-Dhan is a voluntary contributory pension scheme for unorganized workers. Launched by the government in March 2019, the PM Shram Yogi Maan-Dhan scheme offers subscribers a minimum guaranteed pension of Rs.3,000 per month upon attaining retirement, according to the Ministry of Labour & Employment’s website – labour.gov.in. Unorganized sector workers in the age group of 18-40 years, earning up to Rs. 15,000 per month and not covered under any other government-sponsored social security scheme can subscribe to the Shram Yogi Maan-Dhan pension scheme.

The subscriber is required to contribute an amount ranging from Rs. 55 to Rs.200 per month towards the pension scheme account, according to the labour ministry. The amount varies depending on the age of entry.

Here’s how much money a subscriber is required to contribute to the PM-SYM scheme in order to earn the guaranteed pension amount after turning 60:

PM Shram Yogi Maan-Dhan (PM-SYM) pension scheme contribution chart

Entry Age Superannuation Age Member’s  monthly contribution (Rs.) Central government’s  monthly contribution (Rs.) Total monthly contribution  (Rs.)
18 60 55 55 110
19 60 58 58 116
20 60 61 61 122
21 60 64 64 128
22 60 68 68 136
23 60 72 72 144
24 60 76 76 152
25 60 80 80 160
26 60 85 85 170
27 60 90 90 180
28 60 95 95 190
29 60 100 100 200
30 60 105 105 210
31 60 110 110 220
32 60 120 120 240
33 60 130 130 260
34 60 140 140 280
35 60 150 150 300
36 60 160 160 320
37 60 170 170 340
38 60 180 180 360
39 60 190 190 380
40 60 200 200 400
(Source: labour.gov.in)

Workers subscribing to the PM-SYM pension scheme should not be covered under any statutory social security scheme such as National Pension Scheme (NPS), Employees’ State Insurance Corporation scheme and Employees’ Provident Fund Organization Scheme, according to retirement fund body EPFO or Employees’ Provident Fund Organisation.

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