National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons

National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons

Press Information Bureau
Government of India
Ministry of Labour & Employment

02-December-2019 15:03 IST

National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons

National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons (originally proposed name was, Pradhan Mantri Laghu Vyapari Maan-dhan Scheme) has been launched on 12.09.2019. It is a voluntary and contributory pension scheme.

Enrolment to the Scheme is done through the Common Service Centres, with its network of 3.50 lakh Centres across the country.  In addition eligible persons can also self-enroll through visiting the portal www.maandhan.in.

The traders in the age group of 18-40 years with an annual turnover, not exceeding Rs.1.5 crore and who are not a member of EPFO/ESIC/NPS/PM-SYM or an income tax payer, can join the scheme. Under the scheme, 50% monthly contribution is payable by the beneficiary and equal matching contribution is paid by the Central Government. Subscribers, after attaining the age of 60 years, are eligible for a monthly minimum assured pension of Rs.3,000/-. As the Scheme has been launched on 12th September, 2019. It envisages a coverage of about 50 lakh enrolments under the Scheme for 2019-20. In order to achieve this, various measures including celebration of Pension Week/ Pension Saptah have been taken.  All State/UT Governments were requested for popularizing and bringing more awareness about the Scheme.  The progress of the Scheme is being reviewed regularly in the Ministry at senior level with State/UT Governments, for taking initiatives under Mission Mode.

This information was given by Shri Santosh Kumar Gangwar Union Minister of State (I/C) for Labour and Employment in written reply to a question in Lok Sabha today.

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PIB