NATIONAL PENSION SCHEME FOR TRADERS AND SELF EMPLOYED PERSONS

About: 

• It is a voluntary and contributory pension scheme for the Vyaparis (shopkeepers/retail traders and self-employed persons) with annual turnover not exceeding Rs 1.5 crore.
  
  
• It is a 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.
  
  
• Contribution: The Central Government shall give 50 % share of the monthly contribution and remaining 50% contribution shall be made by the beneficiary.
  
  
• Process of enrolment: With this nation-wide launch, people can enrol through 3.50 lakh Common Service Center (CSCs) across the country. In addition people can also self-enroll by visiting the portal www.maandhan.in/vyapari.
  
  
• Criteria for enrolment:
  • At the time of enrollment, the beneficiary is required to have an Aadhaar card and a saving bank/ Jan-dhan Account passbook only.
    
    
  • He/ She should be within 18 to 40 years of age group.
    
    
  • GSTIN is required only for those with turnover above Rs. 40 lakhs.
    
    
  • The beneficiary should not be income tax payer and also not a member of EPFO/ESIC/NPS (Govt.)/PM-SYM.
    
    
  
  
  
• Target: this scheme will target enrolling 25 lakh subscribers in 2019-20 and 2 crore subscribers by 2023-2024. An estimated 3 crore Vyaparis in the country are expected to be benefitted under the pension scheme.