Budget 2019: Mega pension scheme announced for unorganised sector, retired employees to get Rs 3000 per month

Pradhan Mantri Shram Yogi Mandhan: A mega pension yojana, namely Pradhan Mantri Shram Yogi Mandhan (PMSYM) was launched in Budget 2019. The new scheme will provide assured Rs 3000 per month to workers in unorganized sector after 60 years of age. "Mega Pension Yojana, namely Pradhan Mantri Shram Yogi Mandhan, to provide assured monthly pension of 3000 rupees per month, with a contribution of 100 rupees per month, for workers in unorganized sector after 60 years of age," Piyush Goyal said.

Goyal said that the scheme will benefit 10 crore workers in the sector and may become the largest pension scheme in this sector. "Will benefit 10 crore workers in unorganized sector, may become the world's biggest pension scheme for unorganized sector in five years," he said.

(To be Updated)

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