(The Gist of PIB) Prime Minister launches National Pension Scheme for Traders and Self Employed Persons

    (The Gist of PIB) Prime Minister launches National Pension Scheme for Traders and Self Employed Persons
[SEPTEMBER-2019]

Prime Minister launches National Pension Scheme for Traders and Self Employed Persons
 

• Prime Minister Narendra Modi launched the National Pension Scheme for Traders and Self Employed Persons. 

Key highlights 

• It is a voluntary and contributory pension scheme for the Vyaparis (shopkeepers/retail traders and self-employed persons) with an annual turnover not exceeding Rs 1.5 crore.
• 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.
• 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.
• The Central Government shall give 50 % share of the monthly contribution and remaining 50% contribution shall be made by the beneficiary.
• 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.

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Courtesy: PIB