How to plan a pension fund for your house staff? Discover the latest retirement plan

In a bid to facilitate the process of planning and contributing to a pension fund for immediate support staff, Union Labor and Employment Minister Bhupender Yadav on Monday launched the “Donate-a -Pension” under Pradhan Mantri Shram Yogi Maan-Dhan (PM -SYM)

The Minister of Labor shared on Twitter the pension scheme where citizens can donate the premium contribution for staff including domestic workers, drivers, domestic help, noting, “launched the scheme” Donate-a-Pension” in my residence by donating to the Gardener. It is an initiative under the Pension Scheme (PM-SYM) where citizens can donate their support staff’s premium contribution immediate, such as domestic workers, drivers, helpers, etc.

“Under the PM-SYM, workers working in the unorganized sector in the age group of 18-40 can register and deposit a minimum of 660 to 2400 each year depending on their age. After reaching the age of 60, they will receive the minimum insured pension of 3,000 a month,” Yadav said.

The ‘Donate-a-Pension’ scheme unveiled today is among a number of Department of Labor initiatives to be launched during the ’emblematic week’ celebrated by the department from March 7-13.

These activities include the celebration of 25 crore registrations under e-SHRAM, the launch of e-SHRAM on the UMANG application, the launch of ‘Donate-a-Pension’, the job fair by the centers of national career service, job placement drives and job placement camps with a special focus for SC/ST and disabled people in 65 locations across India, sensitization and sensitization of workers and employers on their rights and compliances respectively under various labor laws during the entire iconic week by the Chief Labor Commissioner in 20 regional offices across the country.

(With agency contributions)

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Dolores W. Simon