Prime Minister Narendra Modi has decided to introduce a universal social security scheme for retail traders and small shopkeepers in the Union Government Cabinet meeting after taking over the country for the second time. Modi 2.0 approved this government pension scheme for shopkeepers, retailers and self-owned businesses in the first cabinet meeting on Friday. Under this social security pension scheme, retailers, shopkeepers will be given a minimum amount of Rs 3,000 as monthly pension after they turn 60 years of age.
Keeping in mind that there are many people belonging to the middle class in the country, it has been decided to start the Universal Social Security Scheme. The scheme will benefit about three crore retail traders and shopkeepers and self-employed people in the country. Along with this, PM Modi also talked about strengthening the entire business community in the coming years.
The main objective of PM Vyapar Pension Yojana 2023 or Pradhan Mantri Karmayogi Maandhan Yojana 2023 (PM-KYM Scheme) is to strengthen the internal structure of small-middle class businessmen in the country.
PM Pension Scheme for Retailer, Merchant and Small Shopkeepers
To avail the PM Traders Pension Scheme, some benefits, features and conditions have been laid by the Central Government, which you can see in the article below:
- Under the PM Traders Pension Scheme, a minimum monthly pension of Rs 3,000 will be provided to all shopkeepers, retail traders and self-employed individuals.
- This amount will be received only after the age of the merchant and shop owners is 60 years.
- Apart from this, all small shopkeepers as well as retail traders whose GST turnover is below Rs 1.5 crore will also be eligible to avail the scheme.
- The beneficiary age must be between 18 and 40 years to register.
- No other documents are required for PM Retail Trader Pension Scheme. Just to register online, Aadhar card and bank have savings account.
PM Retailer, Small Shopper Merchant Pension Scheme – Online Application
To avail the benefit of PM Retailer, Small Shopkeeper Merchant Pension Scheme or Traders Pension Scheme, the beneficiary will have to pay some premium every month after which the central government will deposit the same amount as if someone is 29 years old then 100 Every month premiums will have to be deposited and the same amount will also be paid by the central government.
To apply online for Merchant Pension Scheme or Traders Pension Scheme, there are more than 3,25,000 Common Service Centers (CSC’s) in the country and can register by visiting.