With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements:
- The entry age group for enrolment in the scheme is 21 to 40 years.
- Age specific contribution shall be made by the beneficiary.
- Each subscriber under the scheme shall receive a minimum pension of ₹ 3,000 per month after attaining the age of 60 years.
- Family pension is applicable to the spouse and unmarried daughters.
Which of the statements given above is/are correct?
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)
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Launched in 2019 for workers in the unorganized sector.
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Entry age: 18–40 years.
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Provides a minimum assured pension of ₹3,000 per month after 60 years.
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It is a voluntary and contributory pension scheme.
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The Central Government makes an equal matching contribution to the subscriber's contribution.
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Implemented through Life Insurance Corporation of India (LIC).
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On the subscriber's death, the spouse receives 50% of the pension as family pension.
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Target beneficiaries include street vendors, domestic workers, agricultural labourers, construction workers, etc.
Question 1 of 1 Social Security Schemes
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