Pradhan Mantri Shram Yogi Maan-Dhan Scheme

Pradhan Mantri Shram Yogi Maan-Dhan Scheme

Part of: Prelims and GS-II Policies and interventions

Context: The Union Labour and Employment Ministry launched the “donate a pension” scheme allowing any citizen to pay the premium amount on behalf of an unorganised worker under the Pradhan Mantri Shram Yogi Maan-Dhan Scheme.

Key takeaways 

• “Donate a pension” scheme allows a citizen to “donate the premium contribution of their immediate support staff such as domestic workers, drivers, helpers, care givers, nurses, in their household or establishment.
• The donor can pay the contribution for a minimum of one year, with the amount ranging from Rs. 660 to Rs. 2,400 a year, depending on the age of the beneficiary.

About Pradhan Mantri Shram Yogi Maan-Dhan Scheme

• The pension scheme was launched in 2019.
• It allows unorganised sector workers between the age of 18 and 40, who earn up to Rs. 15,000 a month, to enroll by paying a premium amount between Rs. 55 and Rs. 200, depending on the age, that would be matched by the government.
• On reaching the age of 60, the beneficiaries would get a Rs. 3,000 monthly pension.

News Source: TH