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Get Rs 72,000 yearly pension by investing just Rs 200 per month: Pension scheme for married couple

How can married couples benefit from the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Scheme's annual pension of Rs 72,000?Take a look at the figure below.

New Delhi: Are you and your spouse making preparations for your retirement? If this is the case, one such program is the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) of the Modi administration, which has the potential to offer investors both security and respectable returns. In order to help the country’s unorganized sector workers achieve financial independence, the Modi government implemented Pension Schemes a few years ago.

The Ministry of Labor and Employment implemented the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) in 2019.By investing as little as Rs 200 per month, married couples can earn a pension of Rs 72,000 per year.

What exactly is the PM-SYM (Pradhan Mantri Shram Yogi Maan-dhan) Scheme?
The scheme is open to unorganized workers primarily engaged in home-based work, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless laborers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio-visual workers, and similar occupations whose monthly income is less than Rs 15,000/per month and and belong to the entry age group of 18-40 years are eligible for the scheme.

They should not be covered by the Employees’ Provident Fund Organization (EPFO), Employees’ State Insurance Corporation (ESIC), or New Pension Scheme (NPS).In addition, he or she should not pay income taxes.

How can married couples benefit from the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Scheme’s annual pension of Rs 72,000?
A straightforward calculation shows how a couple can get a pension of Rs 72,000 per year. For instance, if a person is 30 years old, they would contribute approximately Rs 100 per month to the schemes; a couple would thus spend Rs 200 per month. Consequently, despite the fact that the individual contribution will be Rs 1200 per year, upon reaching the age of 60, the individual will receive a pension of Rs 36,000 per year (or Rs 72,000 per year for a couple).

The Pradhan Mantri Shram Yogi Maan-dhan Scheme Minimum Assured Pension has the following key characteristics: After reaching the age of sixty, each subscriber to the PM-SYM will receive a minimum assured pension of Rs. 3,000 per month.

Family Benefits: If the subscriber dies while the beneficiary is receiving their pension, the beneficiary’s spouse is entitled to half of the pension as a family pension. Only the spouse is eligible for the family pension.

How to enlist for Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Plan?
An Aadhaar number, a savings account, and a mobile phone will be required of the subscriber. On a self-certification basis, the eligible subscriber can go to the closest CSC and enroll in PM-SYM using their Aadhaar number and the number of their savings bank account or Jan-Dhan account.

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