PM Shram Yogi Maan-Dhan scheme: Unorganised workers can now subscribe to pension plan at these centres

Informal workers can now subscribe to the Pradhan Mantri Shram Yogi Maan-Dhan (PMSYM) scheme, which provides an assured monthly pension of Rs 3,000, at 3.13 lakh common service centres (CSCs) across the country. "CSC e-Governance Services India Ltd, a special purpose vehicle (SPV) under the Ministry of Electronics and IT, has begun the registration process for the PMSYM scheme, covering unorganised sector workers of age between 18 and 40 years, making them eligible for a minimum monthly pension of Rs 3,000 after the age of 60 in lieu of contributions made under the scheme," an official said.

Being implemented by the labour ministry, the ambitious social security scheme was announced by Finance Minister Piyush Goyal in the Interim Budget 2019-20 and is targeted at unorganised sector workers with monthly income of up to Rs 15,000.

The target is to cover 10 crore informal sector workers in five years. The government has roped in CSC e-Governance Services India Ltd for mobilising and registering beneficiaries across India. The SPV has a network of over 3.13 lakh CSCs across India.

"Of these 3.13 lakh CSCs, over 2.13 lakh are operating at the gram panchayat level. With such a reach, CSC is the perfect partner for us to ensure that the scheme covers all needy people, particularly those living in rural and semi-urban areas," the official said.

The enrolment will be carried out by all the CSCs. The unorganised workers may visit their nearest CSC along with their Aadhaar cards and savings bank account or Jan Dhan account passbooks and get registered themselves for the scheme. Contribution amount for the first month shall be paid in cash for which they will be provided with a receipt.

CSC e-Governance Services India Ltd has prepared an application form for PMSYM and is also hosting it to ensure that the entire registration process and data collection takes place in a smooth manner.

It will also issue cards having unique ID number to all those who registers under the scheme. CSC e-Governance Services India Ltd is the exclusive partner of the labour ministry in implementing the scheme.

CSCs, which also work as banking correspondents for several banks in remote and rural locations, will also help those willing to enrol under PMSYM to open bank accounts at the CSC without going to bank branches.

"At a later stage, the ministry is also looking at enrolling people through PMSYM's web portal or can download the mobile app and self-register using Aadhaar number/savings bank account/ Jan Dhan account number on self-certification basis," the official said.

The monthly contribution by the worker joining the scheme at 18 years of age would be Rs 55, with matching contributions from the government. The contributions would rise at higher age. The worker joining the scheme at the age of 40 years would contribute Rs 200, while workers at the age of 29 years would pay Rs 100.

The scheme would cover unorganised workers who are working or engaged as home-based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, agricultural workers and construction workers, among others.

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However, the informal workers will not be eligible for the scheme if they are covered under the National Pension Scheme, the Employees' State Insurance Corporation Scheme or the Employees' Provident Fund Scheme.