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Q100 (IAS/2024) Economy › Schemes, Inclusion & Social Sector › Social security schemes Official Key

With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements : 1. The entry age group for enrolment in the scheme is 21 to 40 years. 2. Age specific contribution shall be made by the beneficiary. 3. Each subscriber under the scheme shall receive a minimum pension of ₹ 3,000 per month after attaining the age of 60 years. 4. Family pension is applicable to the spouse and unmarried daughters. Which of the statements given above is/are correct ?

Result
Your answer: —  ·  Correct: B
Explanation

The entry age group for PM-SYM is 18 to 40 years, not 21 to 40 years[2], making statement 1 incorrect. Statement 2 is correct as monthly contributions range from Rs.55 to Rs.200 depending upon the entry age of the beneficiary[3], and this contribution increases as the subscriber grows old[4]. Statement 3 is also correct since a minimum monthly pension of ₹3,000 is given after 60 years of age[2]. However, statement 4 is incorrect because if the beneficiary passes away, the spouse receives 50% of the pension amount[5], with no mention of unmarried daughters being eligible for family pension. Therefore, only statements 2 and 3 are correct, making option B the right answer.

Sources
  1. [1] https://www.epfindia.gov.in/site_docs/PDFs/MiscPDFs/FAQ_PM-SYM.pdf
  2. [2] Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 12: Indian Industry > by the Ministry of Labour & Employment) > p. 393
  3. [3] https://eshram.gov.in/social-security-welfare-schemes
  4. [5] https://www.pib.gov.in/PressReleasePage.aspx?PRID=2108082
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Don’t just practise – reverse-engineer the question. This panel shows where this PYQ came from (books / web), how the examiner broke it into hidden statements, and which nearby micro-concepts you were supposed to learn from it. Treat it like an autopsy of the question: what might have triggered it, which exact lines in the book matter, and what linked ideas you should carry forward to future questions.
Q. With reference to the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) Yojana, consider the following statements : 1. The entry age group fo…
At a glance
Origin: Books + Current Affairs Fairness: Low / Borderline fairness Books / CA: 2.5/10 · 5/10
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This is a classic 'Scheme Anatomy' question. It combines a high-level promise (₹3000 pension) found in standard books with granular operational details (entry age, family definition) found in official FAQs. The difficulty lies in the subtle numeric distortion (21 vs 18) and the inclusion of 'unmarried daughters' to test your knowledge of actuarial liabilities.

How this question is built

This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.

Statement 1
Is the entry age for enrolment in the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme 21 to 40 years?
Origin: Web / Current Affairs Fairness: CA heavy Web-answerable

Web source
Presence: 5/5
"Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a voluntary and contributory Pension Scheme for Unorganized Workers for entry age of 18 to 40 years with monthly income of Rs.15000 or less."
Why this source?
  • The passage explicitly states the scheme's entry age range as 18 to 40 years.
  • It repeats the eligibility as 'age group of 18-40 years', directly contradicting a 21-40 entry-age claim.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 12: Indian Industry > by the Ministry of Labour & Employment) > p. 393
Strength: 5/5
“(by the Ministry of Labour & Employment) Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) - It is a voluntary and contributory pension scheme to benefit unorganised sector workers (18-40 years old) whose monthly income is ₹15,000 or below. The beneficiary has to pay prescribed monthly contribution and the central government provides equal contribution. In return, minimum monthly pension of ₹3,000 is given after 60 years of age. National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons - It is again a voluntary and contributory pension scheme for traders, shopkeepers and self-employed persons (18-40 years old) having an annual turnover not exceeding ₹1.5 crore and who are not a member of EPFO/ESIC/NPS/PM-SYM or an income taxpayer.”
Why relevant

This snippet states PM-SYM is for unorganised sector workers aged 18-40, giving a specific age-range pattern for the scheme.

How to extend

A student could use this as a baseline to doubt a 21–40 claim and check official scheme documents or notifications to confirm whether lower limit is 18 or 21.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > 7.54 Indian Economy > p. 240
Strength: 4/5
“• 3. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): It provides 1-year term life insurance of ₹2 lakh to bank account holders (in the age group of 18-50 years) for a premium of ₹330 per annum per subscriber. • 4. Atal Pension Yojana (APY): Under APY, a subscriber (in the age group of 18-40 years) will receive fixed monthly pension in the range of ₹1,000 to ₹5,000 after completing 60 years of age depending on the contributions made by the subscriber. Kisan Credit Card Scheme (KCC), introduced in 1998, is a tool for providing cash credit facility to the tenant farmers, oral lessees and share croppers.”
Why relevant

Shows a pattern that several pension/retirement-related government schemes (Atal Pension Yojana, PMJJBY) commonly use 18 as the lower enrolment age and sometimes 40 as an upper bound for contributory schemes.

How to extend

Use this recurring 18–40 pattern across schemes to infer that PM-SYM is more likely to follow 18 as the entry age rather than 21, and verify against authoritative sources.

Indian Economy, Nitin Singhania .(ed 2nd 2021-22) > Chapter 8: Financial Market > Recent Major Initiatives to Improve Financial Inclusion Are > p. 239
Strength: 3/5
“• Pradhan Mantri Jan Dhan Yojana (PMJDY): Launched in 2014, it is a national mission for Financial Inclusion. It seeks to provide access to basic financial services through banks. Over 34 crore accounts have been opened under PMJDY. • Pradhan Mantri Suraksha Bima Yojana (PMSBY): It provides a renewable 1-year accidental death cum disability cover of ₹2 lakh to all subscribing bank account holders (in the age group of 18-70 years) at a minimal premium of ₹12 per annum per subscriber.”
Why relevant

Gives another example (PMSBY) where the age-band starts at 18, reinforcing that many social-financial schemes start eligibility at 18.

How to extend

Combine this general rule (schemes often start at 18) with the PM-SYM mention in snippet 1 to reason that 21 is an unlikely lower bound and that checking primary government notifications would resolve the discrepancy.

Statement analysis

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Statement analysis

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Statement analysis

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