Goyal announces pension scheme for unorganised sector workers

Finance Minister Piyush Goyal on Friday announced the “Pradhan Mantri Shram Yogi Mandhan”, a scheme to provide assured monthly pension of Rs 3,000 per month for workers in the unorganised sector.

While presenting the Interim Budget for 2019-20 in the Lok Sabha, Goyal said the scheme will benefit 10 crore workers and might become the world’s biggest pension scheme for the unorganised sector in the next five years.

Under the scheme, the workers will receive a monthly pension of Rs 3,000 after 60 years of age. The workers will then have to contribute Rs 100 per month towards the scheme.


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