Govt launches pension week to boost PM-SYM, NPS enrolments

at 3:33 pm

New Delhi (NVI): In order to drive enrolments under Pradhan Mantri Shram Yogi Maandhan (PM-SYM) and National Pension Scheme for Traders and Self-Employed Persons (NPS-Traders), Labour Ministry today launched pension week which will continue till December 6, 2019.

The objective of this Pension week is to enroll one crore beneficiaries for PM-SYM and 50 lakhs beneficiaries for NPS-Traders by March 2020.

While inaugurating the main function here, Minister of State for Labour and Employment Santosh Gangwar said that both the pension schemes are simple and hassle free. For the enrolments, only Aadhar and savings bank or Jandhan account is required.

“It takes only 2-3 minutes time to get oneself enrolled under the Schemes. The monthly contribution has been kept at the lowest level that ranges from Rs.55 to Rs.200 per month depending upon the entry ages of the subscriber,” Gangwar said.

“If a person is of age 30 years, his monthly contribution would be around Rs.100 per month. In this way, he will contribute Rs.1200 only per year and Rs.36,000 in his entire contribution period,” Gangwar informed.

“But, after attaining 60 years, he will get Rs.36,000 per year as Pension. The life table clearly indicates that if a person reaches 60 years, he is likely to survive around 80 years of his age. In this way, he will get Rs.36,000 pension per year,” he further informed.

“After his death, his spouse will get 50% of the pension, that is Rs.1,500 per month. If husband and wife are both eligible, they can join the Scheme separately and after 60 years, they will get Rs.6,000 as Pension which will be sufficient to meet their daily needs, during their old ages. If one of them dies during the pension period, the spouse will get Rs.4500 per month as monthly pension (Rs.3000 as his own and Rs.1500 for spouse),” he added.

The Minister also expressed hope that during the Pension Week we will organize awareness campaign among 10 crore Ayushman beneficiaries, 11 crore MGNREGA workers, 4-5 crore BOC workers, 2.5 crore Self Help Group members, 40 lakh Anganwadi workers and 10 lakh ASHA workers about the benefits of these Pension Schemes.

While addressing, Labour Secretary Heeralal Samariya said that the CSCs which will enroll more than 100 persons, during the Pension Week, will be given additional incentive. In this incentive, CSC-SPV will not take any share and complete amount will be transferred to the respective VLEs or CSCs.

“It will be our sincere effort to motivate targeted groups like construction workers, ASHA workers, Aanganwadi workers and domestic workers to get benefit from the schemes,” he added.

Samariya also expressed hope that the State Governments along with their District level functionaries should try to enroll maximum number of beneficiaries during the week. The progress of the Scheme is being regularly reviewed in the Ministry.

Additional Secretary of Labour and Employment Ms. Anuradha Prasad, CPFC Sunil Barthwal, DGLW Ajay Tewari and other senior officials were also present on the occasion.

-sb