With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements : 1. The entry age group for enrolment in the shceme is 21 to 40 years. 2. Age specific contribution shall be made by the beneficiary. 3. Each subscriber under the scheme shall receive a minimum pension of Rs. 3000 per month after attaining the age of 60 years. 4. Family pension is applicable to the spouse and unmarried daughters. Which of the statements given above is/are correct ?
Contents7
- A1, 3 and 4
- B2 and 3 only
- C2 only
- D1, 2 and 4
Show answer
Answer: (B) 2 and 3 only
Correct Answer: (b) Statements 2 and 3 only.
Statement 1: Entry age is 21–40 years — ✗ WRONG.
The correct entry age is 18–40 years (not 21).
Statement 2: Age-specific contributions are required — ✓ CORRECT.
The monthly contribution varies based on the age at which the person joins (younger joiners pay less per month).
Statement 3: Minimum pension of Rs. 3,000/month after age 60 — ✓ CORRECT.
Statement 4: Family pension applies to spouse AND unmarried daughters — ✗ WRONG.
Family pension (50% of pension) applies only to the spouse, not to daughters.
Key facts:
- PM-SYM is for unorganised workers earning up to Rs. 15,000/month.
- It's voluntary and contributory.
PM-SYM provides guaranteed Rs. 3,000 monthly pension to unorganized workers earning up to Rs. 15,000 per month, covering nearly 42 crore workers in India's informal sector.
The scheme uses age-based contribution structure where younger entrants pay less monthly (Rs. 55 at age 18 vs Rs. 200 at age 40) but both get the same Rs. 3,000 pension benefit.
UPSC is testing precise knowledge of eligibility criteria and benefit structure, particularly the common confusion between entry age limits and family pension coverage rules.
PM-SYM Scheme: Eligibility & Benefits
Indian Economy Pradhan Mantri Shram Yogi Maan-dhan PM-SYM entry age Rs. 3000 pension
PM-SYM Scheme: Complete Structure & UPSC Traps
Entry age: 18-40 years (not 21-40)
Pension: ₹3,000/month after age 60
Family pension: Only for spouse (50% of pension)
Age-specific contributions required based on entry age
PM-SYM is a voluntary contributory pension scheme for unorganised sector workers earning up to ₹15,000/month. Launched in 2019, it provides guaranteed pension with age-based contribution structure.
Key Features & Eligibility
Parameter | Details | Important Notes |
|---|---|---|
Entry Age | 18-40 years | Must join before turning 40 |
Income Limit | Up to ₹15,000/month | For unorganised workers only |
Pension Amount | ₹3,000/month | Guaranteed minimum after age 60 |
Contribution | Age-specific | ₹55-₹200/month based on entry age |
Government Match | Equal contribution | 50-50 sharing with beneficiary |
Family Pension | Spouse only | 50% of pension (₹1,500/month) |
Contribution Structure
Younger entry = Lower contribution: 18-year-old pays ₹55/month, 40-year-old pays ₹200/month
Government matching: For every rupee contributed by worker, government contributes equal amount
Auto-debit: Contributions deducted from linked bank account or Jan Dhan account
Aadhaar mandatory: Required for enrollment and pension disbursement
Question Context
This 2024 PYQ tested specific eligibility criteria and benefit structure. Statement 1 was the primary trap - confusing entry age as 21-40 instead of correct 18-40 years. Statement 4 tested family pension scope - limited to spouse only, not daughters.
Entry age trap: UPSC often tests 18-40 years vs incorrect 21-40 years
Family pension scope: Only spouse gets 50% pension, not children/daughters
Income ceiling: ₹15,000/month limit applies to monthly earnings, not annual
Pension amount: Fixed ₹3,000/month regardless of contribution period or amount
Social Security for Unorganised Workers
Indian Economy unorganised workers social security
Social Security Architecture for Unorganised Sector
Three pillars: Life insurance (PMJJBY), accident cover (PMSBY), pension (PM-SYM/APY)
Target: 40+ crore unorganised workers without formal social security
Jan Dhan integration: All schemes linked to bank accounts for direct benefit transfer
India's unorganised sector employs over 90% of the workforce but lacks formal social security. The government created a comprehensive framework covering life, accident, and old-age security through affordable contributory schemes.
Major Social Security Schemes Comparison
Scheme | Coverage | Premium/Contribution | Benefit | Age Limit |
|---|---|---|---|---|
PMJJBY | Life Insurance | ₹330/year | ₹2 lakh death benefit | 18-50 years |
PMSBY | Accident Insurance | ₹12/year | ₹2 lakh (death/disability) | 18-70 years |
PM-SYM | Old Age Pension | ₹55-200/month | ₹3,000/month pension | 18-40 years |
APY | Pension (NPS-Lite) | Varies by age | ₹1,000-5,000/month | 18-40 years |
Unorganised Sector Social Security Framework
# Social Security for Unorganised Workers
## Life Protection
- PMJJBY (Life Insurance)
- ₹2 lakh coverage
- ₹330 annual premium
## Accident Protection
- PMSBY (Accident Insurance)
- ₹2 lakh coverage
- ₹12 annual premium
## Old Age Security
- PM-SYM (Guaranteed Pension)
- APY (Market-linked)
- ₹1,000-5,000 monthly pension
## Health Security
- Ayushman Bharat
- ₹5 lakh coverage
- Cashless treatmentPMJJBY vs PMSBY: Life insurance has higher premium (₹330) but lower age limit (50 years)
PM-SYM vs APY: PM-SYM gives fixed ₹3,000, APY gives variable ₹1,000-5,000
Income eligibility: PM-SYM has ₹15,000/month limit, others have no income bar
Auto-renewal: All schemes auto-renew unless explicitly opted out