Can I exit from Pradhan Mantri Shram Yogi Maan-Dhan Yojana ?

Senan
Answered on March 16,2019

Because of the unpredictable nature of the workers of unorganized sector, this scheme provides the facility for exit from the scheme.

In case subscriber exits the scheme within a period of less than 10 years, the beneficiary’s share of contribution only will be returned to him with savings bank interest rate.
If subscriber exits after a period of 10 years or more but before 60 years of age, the beneficiary’s share of contribution along with accumulated interest will be returned
If a beneficiary has given regular contributions and died due to any cause, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit by receiving the beneficiary’s contribution along with accumulated interest.
If a beneficiary has given regular contributions and become permanently disabled before 60 years of age and is unable to continue to contribute, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or can exit the scheme by receiving the beneficiary’s contribution with interest.
After the death of subscriber as well as his or her spouse, the entire corpus will be credited back to the fund.

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