THE NATIONAL PENSION SCHEME (NPS) FOR TRADERS, SHOPKEEPRS AND SELF-EMPLOYED PERSONS, 2019 on August, 2021.

Finally Government of India notifies THE NATIONAL PENSION SCHEME (NPS) FOR TRADERS, SHOPKEEPRS AND SELF-EMPLOYED PERSONS, 2019 on August, 2021.

Ref: Govt. of India Gazette No. 2988, Ext. P. II, S. 3, sub-s (ii), dated 11.8.2021.

 

Highlights of the Scheme….

This Scheme will be implemented through the Life Insurance Corporation of India.

This Scheme shall provide minimum Pension of Rs. 3,000/- pm to the small traders, retailer traders, small rice mill owners,  oil mill owners, atta chakki owners, workshop or garage owners, commission agents, brokers of real estate, owners of small restaurants, shopkeepers and self employed persons (hereinafter together called “the beneficiaries”) to ensure their old age protection.

The Pension shall be paid to the beneficiaries on attaining the age of 60 years.

The beneficiaries also need to contribute towards this Scheme and Govt. will also contribute equal amount towards the Scheme.

An individual desirous of availing the benefits under the Scheme shall be required to furnish proof of possession of Aadhaar Card or undergo Aadhaar Authentication.

The Govt. shall appoint Implementing Agencies for rendering the services to the beneficiaries under the Scheme.

Please give wide publicity to the citizens who fall under this category.

 

By Dayanand Mangaonkar