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Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?
1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.
2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements regarding the Pradhan Mantri Shram Y...
- According to the Ministry of Labour & Employment, nearly 46 lakh Unorganised Workers (UW) have been registered under the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme.
- PM-SYM is a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and Community Service Centers (CSCs). Hence, statement 1 is correct.
- LIC (Life Insurance Corporation) is the Pension Fund Manager and responsible for Pension pay out.
- Eligibility:
- Should be an Unorganised Worker (UW).
- Monthly Income Rs 15000 or below.
- Entry age between 18 and 40 years. Hence, statement 2 is correct.
- Should possess a mobile phone, savings bank account and Aadhaar number.
- Should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO).
- Should not be an income tax payer.
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Consider the following statements regarding the Pradhan Mantri Shram Y...
Introduction:
The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme is a social security and pension scheme for unorganized workers in India. It aims to provide financial security to the unorganized sector workers during their old age.
Explanation:
The given statements regarding the PM-SYM pension scheme are as follows:
Statement 1: It is a Central Sector Scheme administered by the Ministry of Labour and Employment.
This statement is correct. The PM-SYM pension scheme is a centrally sponsored scheme that is administered by the Ministry of Labour and Employment. The Ministry is responsible for formulating and implementing policies and programs related to labor welfare and security, including the PM-SYM scheme.
Statement 2: An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.
This statement is also correct. The PM-SYM scheme is specifically designed for unorganized workers between the ages of 18 and 60 years. Unorganized workers include street vendors, rickshaw pullers, construction workers, agricultural workers, domestic workers, and other similar categories of workers who are not covered under any formal social security schemes.
Conclusion:
Both the statements given above are correct. The PM-SYM pension scheme is indeed a Central Sector Scheme administered by the Ministry of Labour and Employment. It is also true that an unorganized worker between the ages of 18 and 60 is eligible to enroll in the PM-SYM scheme. The scheme aims to provide a monthly pension to eligible unorganized workers after they attain the age of 60.
The Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme is a social security and pension scheme for unorganized workers in India. It aims to provide financial security to the unorganized sector workers during their old age.
Explanation:
The given statements regarding the PM-SYM pension scheme are as follows:
Statement 1: It is a Central Sector Scheme administered by the Ministry of Labour and Employment.
This statement is correct. The PM-SYM pension scheme is a centrally sponsored scheme that is administered by the Ministry of Labour and Employment. The Ministry is responsible for formulating and implementing policies and programs related to labor welfare and security, including the PM-SYM scheme.
Statement 2: An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.
This statement is also correct. The PM-SYM scheme is specifically designed for unorganized workers between the ages of 18 and 60 years. Unorganized workers include street vendors, rickshaw pullers, construction workers, agricultural workers, domestic workers, and other similar categories of workers who are not covered under any formal social security schemes.
Conclusion:
Both the statements given above are correct. The PM-SYM pension scheme is indeed a Central Sector Scheme administered by the Ministry of Labour and Employment. It is also true that an unorganized worker between the ages of 18 and 60 is eligible to enroll in the PM-SYM scheme. The scheme aims to provide a monthly pension to eligible unorganized workers after they attain the age of 60.
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Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme?1. It is a Central Sector Scheme administered by the Ministry of Labour and Employment.2. An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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