What this scheme offers
Formal-sector employees generally have EPF and EPS quietly building a retirement cushion in the background; a street vendor, domestic worker, or daily-wage construction labourer usually has nothing of the kind, because there's no employer to make matching contributions. PM-SYM is built specifically for that gap: a voluntary pension scheme where you contribute a small, age-based amount every month between 18 and 40 — as little as ₹55 if you join at 18, up to ₹200 if you join at 40 — and the government matches it rupee for rupee into the same fund. Keep paying until 60, and you're guaranteed ₹3,000 a month for life from then on, with the scheme explicitly capped to workers earning ₹15,000 or less a month, so it reaches the people EPF structurally can't. If the subscriber dies, the spouse can continue the scheme or draw 50% of the pension as a family pension.
Who is eligible
- Unorganised-sector worker (street vendor, domestic worker, construction labourer, rickshaw puller, agricultural labourer, and similar) aged 18-40 at enrollment.
- Monthly income of ₹15,000 or less.
- Not already covered under EPFO, ESIC, or National Pension System (government contribution scheme), and not an income-tax payer.
Documents required
- Aadhaar card
- Savings bank account or Jan Dhan account (for auto-debit contributions)
- Mobile number
How to apply
- Visit your nearest Common Service Centre (CSC) with your Aadhaar card and bank passbook.
- The CSC operator calculates your monthly contribution based on your age at entry and sets up auto-debit from your savings/Jan Dhan account.
- Alternatively, self-enroll online through the official PM-SYM/Maandhan portal (maandhan.in) if you're comfortable completing it yourself.
- Continue making the monthly contribution until you turn 60 — missed payments can be regularised with a small penal interest.
- From age 60, the ₹3,000/month pension begins automatically; if you exit the scheme before 10 years, your own contributions are refunded with savings-account interest.