Government has sanctioned a pension scheme for providing monthly minimum assured pension of Rs. 3000 / – for the entry age group of 18-40 years for the shopkeepers / retailers and self-employed persons. This is a voluntary and contributing central sector plan. This plan will benefit more than 30 million small shopkeepers and businessmen.
Government of India will contribute Milan’s account to the customers. For example, if a person of 29 years of age contributes Rs. 100, then the Central Government also contributes the same amount every month as a subsidy to the customer’s pension account.
- All the shopkeepers / retailers / self-employed persons of the age group of 18-40 years are eligible to be a member on self-declaration.
- If a shopkeeper / retailer / self-employed person is registered with GSTN, his firm’s annual turnover should not exceed Rs 1.5 crore.
- He/She should not be an income tax payer.
- He/She should not be a member of the EPFO / ESIC / NPS / PM-SYM
How to apply
Eligible and interested persons can enroll themselves through more than 3,25,000 Common Service Centers spread across the country.
This scheme is based on self-declaration because there is no need for any document except the base and bank account.