Which Indian scheme aims to provide a pension to unorganized workers, assuring a minimum pension of ₹3,000 per month after the age of 60 years?

Key Points

• Pradhan Mantri Shram Yogi Maandhan is the scheme that aims to provide a pension to unorganized workers in India.
• Under this scheme, a minimum pension of ₹3,000 per month is assured after the age of 60 years.
• The scheme is targeted at unorganized workers who earn up to ₹15,000 per month and are between the ages of 18 and 40 years.
• Beneficiaries are required to make monthly contributions to the scheme until they reach the age of 60 years.
• The government also makes a matching contribution to the pension fund.

Additional Information

• The National Pension System (NPS) is another pension scheme, but it is primarily for organized sector workers and government employees.
• Pradhan Mantri Vaya Vandana Yojana is a pension scheme for senior citizens aged 60 years and above, providing an assured return of 8% per annum.
• Pradhan Mantri Jeevan Jyoti Bima Yojana is a life insurance scheme offering coverage of ₹2 lakh for death due to any reason.
• The Pradhan Mantri Shram Yogi Maandhan scheme was launched in 2019 to provide social security to unorganized workers in India.