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NPS Traders Scheme: Small businessmen will get pension of up to 3 thousand, know how to avail benefits

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new Delhi. Many people became unemployed during the Corona period. This has caused the greatest impact to businessmen and everyday people. In such a situation, the government has started the NPS-Traders Scheme to provide financial assistance to small traders. Earlier it was named Pradhan Mantri Small Business Man Dhan Yojana. It was later renamed NPS for Traders and Self Employed Persons. In this, people connected with small scale industries will be able to get a monthly pension of up to 3 thousand rupees. So what is this plan and know how to take advantage of it.

Who can avail
Through the Self-Employed Pension Scheme Self-Employed NPS-Traders Scheme, businessmen can get a pension of up to 3 thousand rupees every month. Retail traders, shopkeepers and self-employed individuals can apply under the NPS-Traders Scheme. The benefit of this scheme will be given to such people whose annual turnover is less than Rs 1.5 crore. The scheme mainly consists of retail traders, self-employed businessmen, mill owners, commission agents, real estate brokers, owners of small hotels and restaurants and other small businesses. It is a voluntary and contributory pension scheme. In which, at the age of 60, the applicant gets a minimum pension of Rs 3000 per month. If the customer dies during this period, the beneficiary’s spouse will be entitled to receive the pension amount. Family members will get 50% of the pension amount.

Application process
To apply under the NPS-Traders Scheme, the applicant must be working in any organized sector or must have membership of EPF, NPS ESIC. Apart from this, the applicant should have Aadhaar Card, Savings Bank Account / Jan Dhan Account Number. To apply you have to visit the nearest Common Services Center (CSC). Enroll for NPS-Traders using the Self Attached Aadhar Card and Savings Bank / Jan-Dhan Account Number here. The first subscription will have to be paid in cash and the auto debit payment facility will start from next month. The government will also contribute equally in the pension scheme.

How much would you contribute
People from 18 years to 40 years can join under this scheme. To get a monthly pension, they have to decide how much they want to contribute every month. It will also depend on the age of the person. If you are 18 years old, then you have to deposit 55 rupees a month. While the age of 29 is 100 rupees monthly and 40 years of age, then the contribution of 200 rupees will have to be made till the age of 60. The amount you deposit, the government will also keep depositing that amount in your account. The benefit of which you will get later as pension.

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