Are you earning less than Rs 15,000 monthly? Do no worry; govt will give Rs 36,000 annually under this scheme

Is your monthly income less than Rs 15,000 and if you have not yet planned for retirement, then there is no any reason for you to be worried. The Union government has a scheme under which you will get Rs 36,000 annually.

The scheme which can help you if earning less than Rs 15,000 is Shram Yogi Maandhan Yojana (Pradhan Mantri Shram Yogi Maandhan Yojana, PM-SYM). However, there is a restriction for the people to be part of the scheme. People between the ages of 18 and 40 only can join this scheme.

Know how much you have to contribute at what age?

There is a provision of monthly contribution of Rs 55 to 200 according to different age in this scheme. Here are the details:

If you join this scheme at the age of 18: Rs 55 monthly

If you join this scheme at the age of 30: Rs 100 monthly

If you join this scheme at the age of 40: Rs 200 monthly

Here is the calculation:

If you take the age of 18, then the annual contribution will be Rs 660. If you do this 42 years, the total investment will be Rs 27,720. After which a pension of Rs 3,000 will be given lifetime for every month. As much as the account holder will contribute, the government will contribute equally on its behalf.

Who can open an account?

Under PM-SYM scheme, people from unorganized sector can open an account or people whose income is less than Rs 15,000.However, you cannot open the account if you have an EPF / NPS / ESIC account. Besides, your income should not be taxable either.

How you can register:

For registration in Pradhan Mantri Shramayogi Maandhan Pension Yojana, one has to visit the nearby Common Service Centres (CSC). You have to furnish some detail information and give one each copy of Aadhar card, savings account or Jan Dhan account along with IFSC code. Passbook, checkbook or bank statement can be shown as proof. You can also register a nominee at the time of opening an account.

Once your details are registered in the computer, the information of monthly contribution will be found on its own. After this you have to give your initial contribution in the form of cash following which your account will be opened and you will get Shram Yogi Card. If you need any clarification they you can call  on 1800 267 6888 toll free number.