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Interim Budget announces Rs 3,000 monthly pension for unorganised workers

For the scheme named PM Shram Yogi Mandhan, govt will allocate Rs 500 crore

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Interim Budget 2019: Finance Minister Piyush Goyal will present the Budget

BS Web Team

Last Updated : Feb 01 2019 | 12:12 PM IST

Finance Minister Piyush Goyal's Interim Budget on Friday announced a pension scheme for unorganised sector workers. The PM Shram Yogi Mandhan assures a monthly pension of Rs 3,000 a month when a worker attains 60 years of age.

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Key features of the scheme:

Assured monthly pension after 60 years of age for pensioner.
An unorganised sector worker joining the svheme at 29 years of age will only have to give Rs 100. Govt contribution will match the share.
10 crore unorganised sector workers will benefit,
It may become be the biggest pension scheme in the world in 5 years
Govt will allocate Rs 500 crore towards the scheme
It will also start this year itself.