PM FREE CHOCHING
Key Features of PM Maandhan Yojana:
1. Target Audience:
- Workers in the unorganized sector such as street vendors, domestic workers, construction workers, etc.
- Eligible individuals must be between the ages of 18 and 40 years.
2. Monthly Pension:
- After the individual reaches the age of 60, they will receive a pension of ₹3,000 per month.
- The pension is meant to provide a basic level of financial security for old age.
3. Contributions:
- The scheme requires a contribution from both the individual and the government. The amount of the individual's contribution depends on their age when they join the scheme.
- For example, a person who joins at the age of 18 will need to contribute ₹55 per month, while a person joining at the age of 40 would need to contribute ₹200 per month.
- The government will also contribute a matching amount to ensure the benefit.
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4. Eligibility Criteria:
- Applicants must be between 18 and 40 years old.
- They must be working in the unorganized sector and earning less than ₹15,000 per month.
- The individual should not be covered under any other social security pension schemes.
- They should have a savings bank account or Jan Dhan Yojana account linked to their Aadhaar number.
5. Registration Process:
- Workers can enroll through the official website or by visiting the nearest Common Service Center (CSC).
- They must provide necessary documents like Aadhaar, bank account details, and mobile number for registration.
6. Benefits:
- Ensures financial security for workers in old age
- The pension amount of ₹3,000 per month can help workers meet their basic needs after retirement.
- It aims to cover approximately 10 crore unorganized sector workers in the long run.
7. Exemption:
- If the individual passes away before the age of 60, the contributions made by them will be returned to their nominee (in the case of their death).
- Similarly, if the person becomes physically disabled before 60 and is unable to contribute to the scheme, they can stop paying the premium but still be eligible to receive the pension.
QULIFICATION
- PASSPORT SIZE PHOTO
- BANK PASSBOOK
- AADHAR CARD
HOW TO APPYLY
