PM Shram Yogi Maan-dhan Pension Scheme: What Happens If Beneficiary Dies? Check Eligibility, Payout, Withdrawal Criteria And How To Apply

It is an age-old pension scheme, launched on 26th August 2021, the E-Shram portal creates a National Database of Unorganised Workers (NDUW), linking Aadhaar to provide a Universal Account Number (UAN).

The PM-SYM scheme offers social security to workers in occupations like street vendors, domestic workers, rickshaw pullers, and more, ensuring protection in old age.

Beneficiary receive a minimum pension of Rs 3,000/month after age of 60. Upon the beneficiary's death, the spouse gets 50% of the pension as family pension. 

The scheme is available to workers aged 18-40 with a monthly income of Rs 15,000 or less and excludes those in the organised sector.

Step 1: The unorganised worker should visit the nearest Common Services Centre (CSC) for enrollment in the PM-SYM scheme.

Step 2: Carry your Aadhaar Card and Savings Bank/Jan-Dhan account number for enrollment on a self-certification basis.

Step 3: The first subscription must be paid in cash, while future payments will be auto-debited from the linked bank account.

Step 4: Workers who are income tax payers or have a membership in EPF, NPS, or ESIC are not eligible for the scheme.  

Early Exit (Before 10 Years): If you exit before 10 years, only your contribution will be refunded with savings bank interest rate.

Death of Beneficiary: If the beneficiary dies, the spouse can continue the scheme or exit and receive contributions with accumulated interest.

Death of Both Beneficiary & Spouse: After both pass away, the entire corpus will be returned to the scheme’s fund.

Permanent Disability Before 60: If permanently disabled, the spouse can continue or exit and receive contributions with interest, whichever amount is higher.

Beneficiary Dies: If the beneficiary dies, the spouse can continue the scheme by making regular contributions or exit and receive contributions with interest. 

If a subscriber misses contributions, they can resume the scheme by paying all outstanding dues along with any penalty set by the Government. (Image Credit: Wikipedia)