National Pension Scheme for traders: Not successful as expected

The National Pension Scheme for traders, Shopkeepers and Self-Employed persons, also called the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana was launched in July 2019. It aimed at benefitting 3 crore small traders and shopkeepers


The Government set a target of 50 lakh enrolment by the end of March 2020. However, only 25,000 persons have applied so far.

Among all states Uttar Pradesh has highest registrations with 6,765 persons. No one has so far registered in the scheme in the states of Mizoram and Lakshadweep.

About the scheme

The scheme is being implemented by Ministry of Labour and Employment. In order to enrol in the scheme, GSTIN is required only for those whose turnover is above Rs 40 lakhs. Also, the participant of the scheme should not be an income tax payer.


Under the scheme the subscribers will receive monthly pension of Rs 3000 after the age of 60. The persons in the age of 18-40 years are eligible to apply to the scheme.

The beneficiaries of the scheme believe that the majority of the population start their pension plans between 40 and 55. The scheme excludes the age group between 40 and 55. Also, Rs 3000 being provided as premium after 30 years will hardly have value as money would have inflated by then.




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