Celebration of pension week inaugurated

Imphal, Nov 30 : Labour & Employment Minister Thokchom Radheshyam, today, inaugurated the State Level Celebration of Pension Week/Pension Saptah for the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) and National Pension Scheme for Traders and Self-Employed Persons (NPS-Traders), Schemes at the Auditorium of Manipur State Film Development Society, Palace Gate.
The weeklong celebration is being organized by the Labour Department, Manipur and will continue till December 6.
As an enrolment drive, the celebration is also being organized in all districts of the State as part of the Nationwide celebration of the Pension Week/Pension Saptah of Labour Ministry.
It aims to enrol one crore beneficiaries for PM-SYM and 50 lakh beneficiaries for NPS-Traders Schemes by March 2020.
Th Radheshyam, speaking as the chief guest, stressed that the two schemes, PM-SYM for unorganized workers and NPS-Traders for retail traders/shopkeepers and self employed persons, are being implemented by the Government to provide old age protection and social security to workers through pension scheme.
He appealed to all to get benefits from the schemes and urged the officials to make the enrolment process easy and to assist the beneficiaries in the best possible way.
He said that it is also important that the locations of Common Services Centres (CSC) be made known to the public where enrolment will be carried out and expressed that the drive in district levels will be able to enrol maximum number of beneficiaries.
Chairman, Manipur Building and Other Construction Workers’ Welfare Board Heikham Dingo Singh said that the workers have been playing a major role in building the Nation.
The Labour Department is one of the important sectors directly working for the welfare of the workers.
The schemes are also being implemented in the interest of the workers.
Deputy Labour Commissioner, K Bono Singh highlighted about the schemes and said that the target for Manipur for the year 2019 – 2020 under PM-SYM is 42,900 and for NPS-Traders, is 15,300.
K Bono further said that Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a pension scheme introduced for unorganised workers mostly engaged as rickshaw pullers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer men, home-based workers, own account workers, agricultural workers, construction workers or in similar other occupations whose monthly income is Rs 15,000 per month or less and belong to the entry age group of 18-40 years. They should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO). Further, he/she should not be an income tax payer.
The NPS-Traders Scheme is for retail traders/ shopkeepers and self-employed persons whose annual turnover is not exceeding Rs. 1.5 crore and belongs to the entry age group of 18-40 years. The retail traders/ shopkeepers and self-employed persons are mostly working as shop owners, retail traders, rice mill owners, oil mill owners, workshop owners, commission agents, brokers of real estate, and owners of small hotels, restaurants and other.  They should not engaged in Organized Sector (membership of EPF/NPS/ESIC) a beneficiary of PM-SYM and an income tax payer
Both the scheme is a voluntary and contributory pension scheme, under which the subscriber would receive a minimum assured pension of Rs 3000 per month after attaining the age of 60 years and if the subscriber dies, the spouse of the beneficiary shall be entitled to receive 50 percent of the pension as family pension.
The inaugural ceremony was attended by Additional Chief Secretary Labour & Employment, Letkhogin Haokip CSC, State Coordinator Wangkhem Dilip Singh and members of Unorganised Workers Associations. The inaugural of the National Function was also webcast to all 3.5 lakhs Common Service Centres (CSCs) across the country.