Stories
NPS Traders Scheme: Get ₹3,000 Monthly Pension After 60! Who Can Benefit?
- •The Central Government has launched the NPS-Traders scheme for small business owners and shopkeepers.
- •The scheme provides a minimum pension of ₹3,000 per month after the age of 60.
- •Applicants must be between 18 and 40 years old with an annual turnover less than ₹1.5 crore.
- •Applications can be submitted online or at the nearest Common Service Centre (CSC).
- •It is a voluntary, contribution-based pension scheme where the government also contributes an equal amount.
Key Questions Answered
The NPS Traders Scheme is a central government initiative launched by the Ministry of Labour and Employment to provide a minimum monthly pension of 3,000 rupees after the age of 60 for small business owners, shopkeepers, and self-employed individuals. Eligible applicants must be between 18 and 40 years old, have an annual business turnover of less than 1.5 crore rupees, possess a registered business, and not be covered under other formal pension systems like EPFO.
This is a voluntary and contribution-based pension scheme where beneficiaries deposit a fixed monthly amount ranging from approximately 55 rupees to 200 rupees based on their age. The central government matches this contribution with an equal amount, and upon reaching 60 years of age, the beneficiary starts receiving the minimum monthly pension.
Eligible shopkeepers, retail traders, and self-employed individuals can apply for the scheme online or by registering at their nearest Common Service Centre (CSC).
