Sign In
Learn bits
Schemes & Policies
Mahesh

08/03/22 18:47 PM IST

Donate-a-Pension’ scheme

In News 

  •  In a bid to create and contribute to the pension of the support staff, the Union Labour and Employment Minister  rolled out the 'Donate-a-Pension' program under Pradhan Mantri Shram.
Details 
  • Under the initiative, people can donate the premium contribution of their immediate support staff like domestic workers, drivers, helpers etc.
  • It is an initiative under (PM-SYM) pension scheme where citizens can donate the premium contribution of their immediate support staff such as domestic workers, drivers, helpers etc.”

Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM)
  • The PM-SYM is a 50:50 voluntary and contributory pension scheme in which the beneficiary makes a stipulated age-specific contribution and the Central Government matches it.
  • For example, if a person joins the system at the age of 29, he must give Rs 100 per month until he reaches the age of 60, at which point the Central Government would contribute an equal amount of Rs 100.
  • The subscriber will get the assured monthly pension of Rs 3000/- with benefit of family pension, as the case may be.

Eligibility under the scheme

  • The beneficiary of the scheme can be any worker of the unorganised sector mostly engaged as home-based workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, rickshaw pullers, landless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations.
  • According to the Labour Ministry, any worker whose monthly income is Rs 15,000/per month or less and belong to the entry age group of 18-40 years are eligible for the scheme.
Source- Times Now 

More Related Current Affairs View All

23 Sep

Quad grouping

'Prime Minister Narendra Modi arrived in the United States, where he will participate in the fourth Quad Leaders Summit in Wilmington, Delaware.' Quad s the grouping of four de

Read More

21 Sep

India Achieves Tier 1 Status in Global Cybersecurity Index 2024

' India has secured Tier 1 status in the Global Cybersecurity Index (GCI) 2024, published by the International Telecommunication Union (ITU).' The GCI is a comprehensive assessm

Read More

21 Sep

A new White Revolution

'Operation Flood, launched in 1970, ushered in the White Revolution and transformed the dairy sector in India.' Dairy cooperatives procured 660 lakh kg of milk per day in 2023-2

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps