Rs 112 Crore Transferred to Accounts of 2.64 Lakh Workers in Bihar

The Government of India came up with a pension scheme for unorganised workers namely Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) to ensure old age protection for unorganised workers. The unorganised workers, who comprise a bulk of home-based workers, street vendors, mid-day meal workers, brick kiln workers, cobblers, domestic workers, rickshaw pullers and the rest earn a monthly income of Rs 15,000 per month or less and are under the age group of 18-40 years to be curtailed of the New Pension Scheme (NPS), Employees' State Insurance Corporation (ESIC) scheme or Employees' Provident Fund Organisation (EPFO). 

Under the Pradhan Mantri Shram Yogi Maan-dhan Scheme, each subscriber is expected to receive a minimum assured pension of Rs 3,000 per month after attaining the age of 60 years. During the receipt of pension, if the subscriber dies, the spouse of the beneficiary would be entitled to receive 50% of the pension to be received by the beneficiary as part of family pension.

In an occasion marked to celebrate the pension week that began on November 30, Deputy CM Sushil Kumar Modi electronically transferred Rs 112 crore as medical assistance in the bank accounts of 2.64 lakh registered workers belonging to unorganised sector.

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