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






Senan 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.