KMC notifies on central pension scheme for unorganised sector

KMC notifies on central pension  scheme for unorganised sector

Street vendors are one of 126 occupations in the unorganized sector that stand to benefit from the Pradhan Mantri Shram- Yogi Maandhan pension scheme. (Morung Photo by Chizokho Vero)

Our Correspondent
Kohima | June 11


The Kohima Municipal Council (KMC) today informed all ward chairmen under KMC to disseminate information about the Pradhan Mantri Shram- Yogi Maandhan (PM-SYM) pension scheme for workers in the unorganized sector.


PM-SYM is a voluntary contribution Pension Scheme and is now available throughout the country at all the Common Service Centres, said KMC Administrator, Kovi Meyase in a letter addressed to all the ward chairmen under KMC.


It may be recalled that the Union Finance Minister in his Budget Speech on February 1, 2019 had announced the pension scheme for workers in the unorganized sector such as street vendors, rickshaw pullers, construction workers, domestic workers, rag pickers, agricultural workers, beedi workers, cobblers, handloom workers, washer men, leather workers or engaged in 126 other similar occupations and whose monthly earning is Rs. 15,000 or less.


PM-SYM targets about 42 crore unorganized workers in the country.
The scheme is being introduced under section 3 (1) ( c ) of the Unorganized Workers’ Social Security Act, 2008 which mandates the central government to formulate and notify suitable welfare schemes for unorganized workers in matters relating to old age protection.


The eligibility criteria for availing the benefit of the scheme are that the beneficiary (i) should be an unorganized worker (ii) entry age between 18 and 40 years and (iii) monthly income of Rs. 15000 or below.


PM-SYM is a Central sector scheme administered by the Ministry of Labour and Employment and implemented through the Life Insurance Corporation of India and CSC e-Governance Service India Limited. LIC will be the Pension Fund Manager and responsible for pension pay out.


All the labour officers of the state and central governments, all the branch offices of the LIC, the officers of ESIC/EPFO will act as facilitation centres to give full information to the unorganized workers about the scheme, its benefits and the procedure to be followed, at their facilitation desks/help desks.


Amrit Abhijat, Joint Secretary & Mission Director, ‘Housing for All’ in a letter addressed to all states/UTs had intimated that the prospective beneficiaries may be informed about the features of the scheme, enrolment process and pre-requisite of having an Aadhaar Card and Savings/Jan-Dhan Account Passbook with IFSC code.