Pension scheme registration for unorganised workers starts in L eh

By Reach Ladakh Correspondent Leh, Mar 20, 2019
Leh :

Marking the launch of Pradhan Mantri Sharm Yogi Maan-dhan (PM-SYM)–a pension scheme for unorganised workers by Narendra Modi, Prime Minister in the country, PM-SYM card was also distributed to some applicants by Sachin Kumar, ADC, Leh on March 5 at DC Office Conference hall.

Tsering Paldan, Deputy Director Employment, and Tsering Angmo, District Manager Common Service Centre (CSC)  detailed about the PM-SYM scheme. 

They said that it is a voluntary and periodic contribution based pension system meant for unorganised workers with income up to ₹15,000/- per month. The Central government would deposit matching contribution (50%), every month in the pension account of the worker. Ministry of Labour and Employment in partnership with LIC would administer PM-SYM.  LIC will be the Pension Fund Manager and responsible for pension payout.

The unorganised worker with age between 18-40 years can join the scheme. The unorganized workers as defined includes home-based workers, street vendors, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, rickshaw pullers, rural landless labourers, own account workers, agricultural workers, construction workers, carpenters, masons, beedi workers, handloom workers, leather workers and other unorganized sector workers.

The scheme provides for a fixed pension of ₹ 3,000 after attaining the age of 60 years on a monthly contribution of a small affordable amount during their working age (between 18-40 years).

The registration process has started and the applicants can get themselves registered at various camps being held at different villages and at District Employment Office Leh.