The Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM) is a government-sponsored pension scheme introduced by the Government of India, aimed at providing social security to workers in the unorganized sector such as daily wage earners, street vendors, and small shopkeepers. It is a voluntary and contributory scheme; under this initiative, eligible individuals aged between 18 and 40 contribute a small monthly amount based on their age, and the government contributes an equal matching amount. Upon attaining the age of 60, the subscriber receives a guaranteed monthly pension of Rs.3,000, thereby ensuring financial security during their old age; additionally, in the event of the subscriber's demise, a provision for a Family Pension has also been included for their spouse.
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