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The Prime Minister of India has announced a pension scheme for shopkeepers, traders & small business owners. They will be given a monthly pension of Rs. 3,000. The scheme will be applicable to all such self-employed people across India. The pension scheme for shopkeepers was BJP`s election promise. The decision was taken in the first cabinet meeting of the newly formed Government.
| Pension Scheme for Shopkeepers, Traders & Small Business Owners | |
| Benefits: | Pension of Rs. 3,000 every month |
| Beneficiaries: | Small business men, shopkeepers & retail traders |
| Launched By: | Government of India |
Objectives:
- To provide social security
- To make sure all such self-employed people live with dignity & respect after retirement
Benefits:
- Monthly pension of Rs. 3,000 after attaining the age of 60 years
Eligibility Criteria:
- The scheme is applicable across India
- The scheme is only for shopkeepers, retail traders & small business owners
- Age Limit: 18 to 40 years
- Turnover: Applicable only those whose GST registered turnover is less than 1.5 crores
Pension Scheme for Shopkeepers, Traders & Small Business Owners Highlights:
- The scheme is announced by the Union Minister Prakash Javadekar
- The scheme is expected to benefit 5 crore small traders in next 3 years
- All those interested in the scheme needs to apply for the scheme
- They need a pay a small premium amount every month & government will make equal contribution to the scheme
- It is a voluntary scheme & not applicable by default
- Registrations for the pension scheme can be done at any nearby Common Service Center (CSC)
- The shopkeepers & traders themselves & their family will be given benefit of the scheme
The scheme will primary benefit small shopkeepers. The scheme will empower them & provide security after the age of 60 years.
