Pradhan Mantri Shram Yogi Maandhan is a social welfare scheme launched by the Ministry of Labour and Employment of the Government of India in February 2019 [1] for poor labourers in the unorganised sector from minimum 18 years of age to maximum 40 years.
[2] Pradhan Mantri Shram Yogi Maandhan is available to unorganized workers between 18 and 40 years of age.
Under the scheme, the subscriber will receive a minimum assured pension of ₹3,000 (US$35) per month[4] after attaining the age of 60 years.
Due to the erratic nature of the works of unorganized sector, the exit provisions have been kept flexible.
As such the subscriber can exit prematurely and the amount will be returned with interest at the saving bank account rate, or the rate at which the fund earned income (if the subscriber exits after a 10-year period), whichever is higher.