look news india
Regular income and social security in old age are the biggest support for every senior citizen. Crores of elderly people and unorganized sector workers in India face financial crisis after retirement. To address this concern, pension schemes for senior citizens have been expanded by the Central and various state governments. Recently, the news of people above 60 years of age getting ₹ 3000 pension is becoming increasingly viral on social media and digital platforms. In fact, under the ‘Pradhan Mantri Shram Yogi Maandhan Yojana’ (PM-SYM) of the Central Government and the ‘National Pension Scheme’ launched for small businessmen, a minimum assured monthly pension of ₹ 3000 is transferred directly to the bank account every month after the completion of 60 years of age. Apart from this, in states like Uttar Pradesh, Haryana and Delhi, financial assistance ranging from ₹ 1,000 to ₹ 3,000 (on monthly or quarterly basis) is also being given to the elderly through DBT under old age pension.
‘Pradhan Mantri Shram Yogi Maandhan Yojana’ (PM-SYM), run by the Ministry of Labor and Employment of the Central Government, is a voluntary and co-contributory pension scheme for the workers in the unorganized sector of the country. The biggest feature of this scheme is that the central government also adds the same amount as subsidy as per the monthly contribution deposited by the beneficiary. A person joining this scheme between the age of 18 to 40 years has to pay a nominal premium (₹55 to ₹200 per month) till the age of 60 years. As soon as the beneficiary completes 60 years of age, he/she starts receiving a fixed pension of ₹3,000 (₹36,000 annually) every month for life. In case of death of the beneficiary, his spouse (husband or wife) is given 50% of the amount (i.e. ₹ 1500 per month) as family pension.
The main objective of this ambitious scheme is to support those hardworking people in old age who do not have formal social security cover like EPFO, NPS or ESIC. The main eligibility conditions are as follows:
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Unorganized Sector Workers: Street vendors, handcart drivers, rickshaw pullers, domestic helpers, construction workers, agricultural workers, cobblers, tailors, washermen and e-shram card holders.
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Small shopkeepers and self-employed: Those whose annual turnover is less than ₹1.5 crore are eligible under the Traders Maandhan Scheme.
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Monthly Income Limit: The monthly income of the applicant should be ₹15,000 or less.
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Ineligibility: Income tax paying citizens and organized sector salaried employees (who come under the purview of EPFO or ESIC) are not eligible for this scheme.
If the age of a senior citizen is already 60 years or more and he had not contributed to Maandhan Yojana earlier, then the ‘Old Age Pension Scheme’ of the state governments becomes the biggest support for him. For example, in Uttar Pradesh, the Social Welfare Department transfers ₹1,000 per month (₹3,000 as a lump sum as quarterly instalment) to the bank accounts of elderly people above 60 years of age living below the poverty line (BPL). At the same time, Haryana government is providing direct pension of ₹ 3,000 per month to senior citizens under ‘Old Age Respect Allowance’. No prior contribution is required for these schemes, only age proof and income limit conditions are mandatory.
Whether you are applying for the Central Government Maandhan Yojana or the State Old Age Pension, it is mandatory for you to have the following basic documents:
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Aadhar Card (mandatory to be linked to mobile number)
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Passbook of active savings bank account or Pradhan Mantri Jan-Dhan account
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aadhaar linked mobile number
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passport size photo
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Income certificate and BPL ration card (for old age pension)
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Age certificate (Voter ID card, birth certificate or 10th mark sheet)
Citizens can register in these schemes in both ways as per their convenience:
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Through Common Service Center (CSC): Go to the nearest Jan Seva Kendra and present your Aadhar card and bank passbook. CSC VLE will do your biometric authentication, after which your pension card will be issued immediately.
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Self Registration from Official Portal: For Maandhan Yojana, go to the official website (maandhan.in) and select ‘Self Enrollment’ option. Login with the OTP received on your mobile number, fill personal and bank details and set auto-debit mandate.
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State Pension Portal: For state old age pension, go to the integrated social pension portal of the respective state (eg sspy-up.gov.in for UP), click on ‘Online Application’ and upload the required documents and submit the final.
To ensure that pension continues to flow into the bank account without any interruption, it is mandatory for all senior citizens to submit their Jeevan Pramaan / Life Certificate or e-KYC every year. This verification can be done at the nearest bank branch, post office or from home through biometric/face authentication mobile app. The installments of beneficiaries whose Aadhaar and bank account are not mapped with NPCI may get stuck, hence it is very important to keep the account DBT activated.