Question 75 from UPSC CSE 2024 - Current Affairs (Social Schemes)

Question

With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements:
1. The entry age group for enrolment in the scheme is 21 to 40 years.
2. Age-specific contribution shall be made by the beneficiary.
3. Each subscriber under the scheme shall receive a minimum pension of Rs. 3000 per month after attaining the age of 60 years.
4. Family pension is applicable to the spouse and unmarried daughters.
Which of the statements given above is/are correct?

IASCODEX · Accepted Answer

Correct Option: B. 2 and 3 only

Strategy: - Evaluate each statement against the core facts of the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme.
- Identify incorrect statements:
    - Statement 1: Entry age is 18-40 years, not 21-40.
    - Statement 4: Family pension is only for the spouse, not unmarried daughters.
- Confirm correct statements:
    - Statement 2: Contribution amounts are age-specific.
    - Statement 3: Guaranteed monthly pension is Rs 3,000 post-60 years.
- Retain only the statements that accurately reflect the scheme's details.

Key Info: Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a government-backed pension scheme tailored for unorganised sector workers, such as street vendors, domestic workers, construction and agricultural labourers, rickshaw pullers, and similar occupations. Key features include:

- **Eligibility**: Entry age is 18 to 40 years; monthly income must be Rs 15,000 or less; applicant must not be an income tax payer or engaged with any other statutory pension scheme (like EPFO, NPS).
- **Voluntary, Contributory Scheme**: Both beneficiary and central government contribute monthly, with the contribution strictly age-specific--so the younger the enrollee, the smaller the periodic payment until age 60.
- **Pension**: On attaining 60 years of age, the subscriber receives a minimum guaranteed monthly pension of Rs 3,000.
- **Family Pension**: In the event of the subscriber's death, 50% of the pension is payable to the surviving spouse only (not to children or daughters).
- **Nodal Agency**: Life Insurance Corporation (LIC) administers the scheme, ensuring fund management and disbursement.

PM-SYM is part of the broader social security architecture that supports informal sector workers lacking coverage or retirement benefits.

IASCODEX · Answer

Option A: 1, 3, and 4

IASCODEX · Answer

Option C: 2 only

IASCODEX · Answer

Option D: 1, 2, and 4