Topic: National Pension Scheme for Traders and Self Employed Persons
Topic in Syllabus: Indian Economy
The Prime Minister of India launched the National Pension Scheme for Traders and Self-Employed Persons, a pension scheme for the Vyaparis (shopkeepers/retail traders and self-employed persons) with annual turnover not exceeding Rs 1.5 crore.
About National Pension Scheme for Traders and Self Employed Persons:
- It is a voluntary and contributory pension scheme for entry age of 18 to 40 years with a provision for minimum assured pension of Rs 3,000 monthly on attaining the age of 60 years.
- The Central Government shall give 50 % share of the monthly contribution and remaining 50% contribution shall be made by the beneficiary.
- The enrolment under the scheme is free of cost for the beneficiaries.
- The enrolment is based upon self-certification.
- For self-employed shop owners, retail owners and other vyaparis
- Entry Age between 18 to 40 years
- Annual turnover should not exceed Rs 1.5 crore
Should not be
- Covered under any National Pension Scheme
- An income tax payer
- Enrolled under Pradhan Mantri Shram Yogi Maandhan Yojana/Pradhan Mantri Kisan Maandhan Yojana
- An estimated 3 crore Vyaparis in the country are expected to be benefitted under the pension scheme.