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Ministry Of Labour and Employment

National Pension Scheme For Traders And Self Employed Persons

Application Process
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Frequently Asked Questions
A voluntary and contributory pension scheme by the Ministry of Labour and Employment. This scheme is meant for old age protection and social security of Small Scale Traders and Retailers. The beneficiary would receive a minimum assured pension of ₹ 3000/- per month after attaining the age of 60 years and if the beneficiary dies, the spouse of the beneficiary shall be entitled to receive 50% of the pension as a family pension. A family pension is applicable only to spouses. Vyaparis, who are self-employed and are working as shop owners, retail traders, rice mill owners, oil mill owners, workshop owners, commission agents, brokers of real estate, owners of small hotels, restaurants, and other Vyaparis with similar occupations whose annual turnover does not exceed ₹ 1.5 crores are eligible to get benefit under the scheme.

1. On the maturity of the scheme, an individual will be entitled to obtain a monthly pension of ₹ 3000/-. The pension amount helps pension holders to aid their financial requirements.
2. The scheme is a tribute to the workers in the Unorganized sectors who contribute around 50% of the nation’s Gross Domestic Product (GDP).
3. The applicants between the age group of 18 to 40 years will have to make monthly contributions ranging from ₹ 55 to ₹ 200 per month till they attain the age of 60.
4. Once the applicant attains the age of 60, he/she can claim the pension amount. Every month a fixed pension amount gets deposited in the pension account of the respective individual.
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