Govt's new pension scheme seen adding to subscribers' confusion
New Delhi, Feb. 15 -- The government on 7 February notified rules for the Pradhan Mantri Shram Yogi Maan-Dhan (PMSYM) scheme, which was announced in interim budget as a pension scheme for the unorganized sector workers. PMSYM promises a pension of '3,000 per month when the subscribers turns 60, in return for fixed monthly contributions starting for as little as '55. Unorganized sector workers between 18 and 40 years, and earning up to '15,000 per month can join the scheme, which will be launched on 15 February. A slew of conditions and exclusions have, however, been specified, making it a difficult selling proposition. There is little to distinguish it from Atal Pension Yojana (APY) and, in many ways, it is a step backward from APY. Subscri...
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