Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana which was launched on 5th March 2019 is aimed at benefitting:

Correct option is A

Correct Answer: (A) unorganised sector workers

• PM-SYM is a voluntary, contributory pension scheme launched on 5 March 2019 targeting workers in the unorganised sector.

• It ensures a minimum assured pension of ₹3,000 per month to individuals who:

  • Are between 18 and 40 years old,

  • Earn ₹15,000 or less per month,

  • Do not have coverage under EPFO, ESIC, NPS, or are income-tax payers.

• PM-SYM Highlights:

  1. Announced in the Interim Budget 2019, and launched on 5 March 2019.

  2. A matching contribution model—the government matches the pension contribution of the worker equally.

  3. Covers various unorganised occupations like street vendors, construction workers, domestic help, agricultural laborers, etc..

• Government and public sector employees – Covered under schemes like EPFO/NPS, not eligible for PM-SYM.

• Private sector employees – Many are also covered under formal pension schemes, not targeted by PM-SYM.

• Organised sector workers – Generally enrolled in statutory pension or insurance schemes; PM-SYM is specifically designed for the unorganised sector.