Objective: 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. 

Key features:

  • 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
  • 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/-.