Labour Ministry reaches out to PSUs for 'Donate a Pension' drive

The labour ministry of India has started discussions with public sector undertakings (PSUs) and government departments, urging them to contribute towards the 'Donate a pension' programme for unorganised workers. The campaign was launched in March ...

BCCL - Non Copyright
The labour ministry has initiated discussions with public sector undertakings (PSUs) and government departments, pitching its 'donate a pension' programme for their unorganised workers.

The move comes after the campaign, launched in March 2022, failed to take off in a big way and independent registrations under the Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) scheme, to which contributions are made under the programme, continued to see muted growth.

The labour ministry data shows 336 contributions have come so far under the 'donate a pension' programme, with the highest from West Bengal (45), followed by Uttar Pradesh (28), Madhya Pradesh and Andhra Pradesh (23) and Assam (21).


The government is of the view that donations from PSUs will push up registrations under the PM-SYM scheme and help the government widen the social security net while ensuring old age pension for unorganised workers associated with these PSUs and departments.

Labour Ministry Reaches Out to PSUs for ‘Donate a Pension’ Drive

"Discussions are being held with PSUs and the plan is to reach out to at least 10 big public sector enterprises in the near future to persuade them to contribute towards the pension of their unorganised workers," said a senior government official, who did not wish to be identified.

ADVERTISEMENT
According to the official, the labour ministry has recently unveiled standard operating procedure for the initiative to ensure the process is quick and hassle-free for the employers.

"The labour ministry is also in talks with the director general of mines and safety and the Directorate General Factory Advice Service and Labour Institutes to push up enrolments under the scheme," said the official.

Under the 'donate a pension' initiative, individual households or employers can donate the premium contribution for their immediate support staff such as domestic workers, drivers, helpers, caregivers and nurses in their household or establishment or any other eligible unorganised workers in the age group of 18-40 years so as to provide them old age protection through the PM-SYM scheme.

Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Company › Corporate Trends › Labour Ministry reaches out to PSUs for 'Donate a Pension' drive
Text Size:AAA
Success
This article has been saved

*

+