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- The Union Labour and Employment Ministry has notified the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana 2019. It is a pension scheme for retailers and small traders.
- The pension scheme assures a minimum monthly pension of ₹3000 per month to small shopkeepers, retail traders and the self-employed people after attaining the age of 60 years once they have contributed to the scheme every month from the time of enrolment and till that age.
- Further, the Government of India will make matching contribution in the subscribers’ account
- The scheme is available to all small shopkeepers and self-employed persons as well as the retail traders with Goods and Services tax (GST) turnover below Rs. 1.5 crore and age between 18-40 years.
- To be eligible, the applicants should not be covered under the National Pension Scheme, Employees’ State Insurance Scheme and the Employees’ Provident Fund or be an Income Tax assessee.
- The scheme is based on self-declaration as no documents are required except Aadhaar and bank account.
- Interested persons can enrol themselves through Common Service Centres (CSC) spread across the country
