PM-SYM: Pension can be arranged by investing in Pradhan Mantri Shram Yogi Maandhan Yojana. Under this scheme, investment will have to be made according to age. After the age of 60, Rs 36,000 will be available as pension.
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In today’s era, everyone invests or saves to avoid money crunch in future. People have the option of investing in the stock market to government schemes. There are many things to keep in mind before making any kind of investment. You want to invest regularly or lump sum, how much amount you have the ability to invest, for how long you can invest and what goals do you want to accomplish by investing etc. There are many options under which one can invest for fixed income in the future. If you are planning any such investment, then you can choose the Prime Minister Shram Yogi Maandhan Yojana (PM-SYM) of Modi government for pension.
This special scheme of the Modi government has been prepared for the people working in the unorganized sector. Under this scheme, they will be given a pension of Rs 36,000. Anyone in the age group of 18 to 40 years can take advantage of this scheme. The premium amount in this plan is also decided on the basis of the age of investment. This pension, which is getting Rs 36 thousand annually, will be given at the rate of Rs 3,000 every month. In about two and a half years after its launch, more than 45 lakh people have secured their pension under this scheme.
Accounts can be opened from anywhere in 3.52 lakh service centers
People living in 36 states and union territories of the country can take advantage of this scheme. For this, 3.52 lakh Common Service Centers are also available across the country. If you also want to invest through this scheme, then you can open your PM-SYM account by visiting your nearest public service center. For this you will need Aadhar card and bank passbook. Shram Yogi Card is also issued to the person taking advantage of this scheme.
Those working in the unorganized sector will get benefits
The central government has started this scheme for the people working in the unorganized sector. Under this scheme, you will be able to invest some money in it every month. After completing 60 years of age, the government will give you a pension of Rs 3,000 every month under this scheme. The person taking benefit under the scheme gets pension for life after the age of 60 years. Under this scheme, the amount you contribute to your account every month, the same amount is contributed by the government.
If you start investing early, you will have to pay less money every month
The person joining this scheme at the age of 18 has to contribute only Rs 55 every month. The longer you join this scheme, the more amount you will have to pay every month. But before opening the account, you also have to see that there should not be an EPF / NPS / ESIC account. Apart from this, you cannot take advantage of this scheme even though you are in the purview of taxable income. If the person taking the benefit of this scheme dies, then the beneficiary’s spouse will continue to get 50 percent of the pension. At the same time, if a person has invested in it continuously but they die before the age of 60 years, then their spouse will get the option to continue investing in it.
How to open PM-SYM account
- To open this account, you can go to the nearest Common Service Center. If you do not know the address of the center, then find out from the website of LIC, Labor Office or CSC.
- Aadhar card, bank account information, bank passbook, check book or bank statement will have to be carried while going to the Common Service Center.
- Keep the amount of money with which you want to start investing in this account.
- If you have already invested money in any investment scheme, then keep proof of it too.
- The investment amount is determined on the basis of your age.
What are the rules for exiting this scheme?
- If the person taking advantage of this scheme closes it within 10 years of starting investment, then the total contribution made by him will be returned along with the Savings Bank interest rate.
- The beneficiary’s contribution will be refunded after 10 years of starting the investment and exiting this investment before the age of 60 years. On this, the interest deposited to them or the return of the fund, whichever is higher, will be refunded.
- If the investing beneficiary and their spouse dies, the entire amount will be remitted back to the fund.
- If a person does not invest for a month, then he will have to pay the outstanding amount along with a penalty.
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