UPSC CSE Prelims
Social Security Schemes Previous Year Questions (PYQs)

Detailed Explanation:

Correct Answer: ✅ Option 2 (Statements 2 and 3 only)

The Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM) is a voluntary and contributory pension scheme launched for workers in the unorganized sector to provide old-age income security.

❌ Statement 1 is Incorrect: The eligible entry age is 18 to 40 years, not 21 to 40 years.

✅ Statement 2 is Correct: The subscriber makes age-specific monthly contributions. The contribution amount increases with the age at entry.

✅ Statement 3 is Correct: Every subscriber receives a minimum assured pension of ₹3,000 per month after attaining 60 years of age.

❌ Statement 4 is Incorrect: Family pension is available only to the spouse, who receives 50% of the pension after the subscriber's death. Unmarried daughters are not covered.

Short Notes: Pradhan Mantri Shram Yogi Maandhan (PM-SYM)

• Launched in 2019 for workers in the unorganized sector.

• Entry age: 18–40 years.

• Provides a minimum assured pension of ₹3,000 per month after 60 years.

• It is a voluntary and contributory pension scheme.

• The Central Government makes an equal matching contribution to the subscriber's contribution.

• Implemented through Life Insurance Corporation of India (LIC).

• On the subscriber's death, the spouse receives 50% of the pension as family pension.

• Target beneficiaries include street vendors, domestic workers, agricultural labourers, construction workers, etc.