Jammu, Mar 5: Governor Satya Pal Malik and Dr Jitendra Singh, MoS, PMO Tuesday launched the Pradhan Mantri Shram Yogi Maan Dhan (PM-SYM) Scheme, a pension scheme for unorganised sector, at the Convention Centre in Jammu.
Lauding the initiative of the Union Government in conceptualising this exclusive scheme, Governor described it as a significant step towards benefitting the workers in Country’s unorganised sector.
Governor on the occasion of launch of PM-SYM, announced that the first month instalment on behalf of registered beneficiaries will be contributed by the State Government.
Noting that the Scheme has been launched with the highly laudable objective of providing social security coverage to labourers and workers in the unorganised sector, he observed that the Government will make the best possible effort to ensure that benefit of the newly launched Scheme reaches every eligible beneficiary in the State.
Dr. Jitendra Singh described PM-SYM as a mega pension yojana having potential to bring social transformation in the unorganised sector in India where in 10 crore labourers and workers are expected to avail the benefit of this Scheme within next five years making it one of the largest pension schemes of the world.
He said that the ‘Scheme’ has also targeted the youth of India with the purpose to aware them about the need of financial planning when young in order to secure their old age.
Khurshid Ahmed Ganai, Advisor to Governor, highlighted main features of the Scheme and informed that this pension Scheme shall provide workers and labourers in the Unorganised sector, an assured monthly pension of Rs. 3,000 from the age of 60 years on a monthly contribution of a small affordable amount during their working age.
Saurabh Bhagat, Commissioner Secretary Labour and Employment Department, while welcoming the Guests, gave a detailed description of the Scheme.
Governor handed over PM-SYM Cards among the beneficiaries on the occasion.
A large number of workers and labourers were present on the occasion.