A pension scheme was introduced by the central government for the workers of the unorganized sector. The name of this pension scheme is Prime Minister Shram Yogi Maan-Dhan. This scheme has completed 3 years. Today we will give you some important information about this pension scheme.
Workers in the age group of 18 to 40 years can apply in this scheme. Talking about the monthly installment, it is from 55 to 200 rupees. This contribution is till the age of 60 years. Under the scheme, after crossing the age of 60, 3,000 will be available every month i.e. up to Rs 36,000 annually. Let us tell you that this is a voluntary and contributory pension scheme. The amount contributed by the subscriber is the contribution of the Government of India.
Scheme Terms: It is necessary for the scheme that the employee should not be associated with social security schemes such as National Pension Scheme (NPS), Employees State Insurance Corporation Scheme, Employees Provident Fund Organization scheme. Apart from this, the income tax payer also cannot take part in this scheme. If the monthly income of the worker joining the scheme is 15 thousand or less, then he can join the scheme.
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What happens after death: If a beneficiary has made regular contribution and dies due to any reason, then his/her spouse can join the scheme by paying regular contribution for the remaining period. Thereafter, on completion of the contribution period, i.e. 60 years, he will be entitled to a monthly pension of Rs 3,000. If you do not wish to contribute, the amount will be returned to the nominee along with interest. This amount will be given on the basis of interest charged on the savings accounts of the bank.