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.
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.