Great News! Modi Government to Provide ₹3,000 Monthly Pension for Workers; Here’s How to Apply
Great News! Modi Government to Provide ₹3,000 Monthly Pension for Workers; Here's How to Apply
The Indian government has launched a significant welfare scheme for millions of workers in the unorganized sector. In a time marked by unstable income and financial insecurity, the “Pradhan Mantri Shram Yogi Mandhan Yojana” has become a lifeline for laborers. Under this scheme, workers will receive a monthly pension of ₹3,000 in their old age, ensuring financial stability post-retirement.
How Does the “Pradhan Mantri Shram Yogi Mandhan Yojana” Work?
Launched in 2019, the scheme aims to provide social security to laborers in the unorganized sector. Workers aged between 18 and 40 can apply for this scheme. To participate, workers are required to make a fixed monthly contribution, which the government matches equally. For example, if a worker contributes ₹200 per month, the government will also contribute ₹200. After 20 years of regular contributions, starting at the age of 18, workers will be eligible to receive a monthly pension of ₹3,000 upon reaching the age of 60.
Registration Process
To avail the benefits of this scheme, workers need to register at their nearest Common Service Center (CSC). Registration requires the worker’s Aadhaar card and bank details. Once the registration process is complete, workers will receive a confirmation message on their mobile phones, indicating that their account has been opened. The monthly premium will be automatically deducted from their bank account, although the first installment must be paid via check or in cash.
Benefits of the Scheme
For workers in the unorganized sector, this scheme provides essential financial security. Those with irregular incomes can rely on this pension to support themselves during retirement. The “Pradhan Mantri Shram Yogi Mandhan Yojana” will give millions of workers financial stability and reduce their worries about old age.
This scheme acts as a protective shield for laborers, ensuring that after 60, they will receive ₹3,000 each month, safeguarding their future and helping them navigate financial challenges in their later years.
