The Government of India has announced a new pension scheme for small shopkeepers / traders / ray vendors. The people covered under this scheme will get a lifetime pension of Rs 3,000 from the age of 60.
This scheme has not started officially yet. Will start in some time. Note that the complete information about this scheme has not come yet. According to the information available so far, I am writing here. As more information comes, I will update the post.
This scheme is only for shopkeepers, grocery sellers and small traders. Under this scheme, you will get a minimum pension of Rs 3,000 on attaining the age of 60 years.
How does the Shopkeeper/Trader Pension Scheme work?
If you are eligible, then you invest till the age of 60 years. From the age of 60, you get a lifetime monthly pension of Rs.3,000.
Government guarantee. If you contribute to the pension scheme, then there is no risk to your pension.
1. You have to invest till the age of 60 years. Your monthly investment depends on your entry age. You have to invest only one thing till the age of 60 years. The Government of India will also contribute equally to your pension account.
2. From the age of 60 you will get a monthly pension of Rs 3,000. This pension will be available for life.
3. After you your wife will get pension. There is no clarity on whether your wife/husband will get full pension or half.
Who can join the Shopkeeper / Trader Pension Scheme?
1. Your age (at the time of joining the scheme) should be between 18 to 40 years.
2. All small shopkeepers / traders / self-employed people can participate in this. Your GST turnover should be less than Rs 1.5 Crore.
How to join Shopkeeper / Trader Pension Scheme?
1. All you need is Aadhar card and bank account. Your Aadhar card should be linked in the bank account.
2. You can join the scheme by visiting the Common Service Center (CSC).
3 Once you have joined the scheme, after that the investment amount will be automatically deducted from your bank account and invested.
On attaining the age of 60 years, this money will come automatically in your account.
Do I have to contribute for benefits in this pension scheme?
Yes, like Atal Pension Yojana (APY) and Pradhan Mantri Shramyogi Maandhan Yojana (PM-SYM), you will also have to contribute.
Note that no contribution has to be made in the Pradhan Mantri Kisan Samman Nidhi Yojana (PM-KISAN).
How much will be the investment?
Your monthly investment amount depends on your age.
Complete information has not come about this yet, but according to me the investment amount will be same as that of Pradhan Mantri Shramyogi Maandhan Yojana (PM-SYM).
The monthly investment amount in PM-SYM is as follows:
Additional links
Announcement of Shopkeeper / Trader Pension Scheme of Government of India
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