The Ministry of Labour and Employment has passed the National Pension Scheme for Traders, Shopkeepers and Self- Employed Persons, 2019 vide notification dated August 3, 2021. The Scheme aims to provide pension to the small traders, shopkeepers, and self-employed persons to safeguard their old age protection.
Key features of the Scheme are:
- The Scheme is implemented through its implementing agencies which include the Life Insurance Corporation of India and Common Service Centres – Special Purpose Vehicle.
- The Scheme provides a minimum monthly assured pension of three thousand rupees per month given to the beneficiaries after attaining the age of sixty years.
- An individual in order to avail the benefits under the Scheme shall be required to furnish proof of possession of Aadhaar or undergo Aadhaar authentication and for those who does not possess the Aadhaar number or has not yet enrolled for an Aadhaar, shall have to apply for Aadhaar enrolment provided he is entitled to obtain Aadhaar as per the provisions of section 3 of the said Act, and such individual may visit any Aadhaar enrolment center (list available at Unique Identification Authority of India website www.uidai.gov.in) for Aadhaar enrolment.
- The Ministry through its Implementing Agencies shall make all the required arrangements to ensure wide advertising through media is given to the beneficiaries to make them aware of the requirement of Aadhaar under the Scheme so that every eligible person could avail the benefits under the Scheme.
*Tanvi Singh, Editorial Assistant has reported this brief.