Pradhan Mantri Laghu Vyapari Mandhan Yojana(PMLVMY)

Pradhan Mantri Laghu Vyapari Mandhan Yojana also known as National Pension Scheme for Traders and Self Employed Persons. It is a central government scheme that was introduced on 22 July 2019. This scheme was launched for shopkeeper's /retail traders and self-employed persons for providing monthly minimum assured pension of Rs 3000/- after attaining the age of 60 years. It is meant for old age protection and social security of small Scale traders and Retailers.

As it is a voluntary and contributory pension scheme under which the applicant would receive monthly pension of Rs 3000 for the entry age group of 18-40 years.

Benefits of PMLVMY

• The beneficiary shall receive assured monthly pension of Rs 3000 when he would attain the age of 60 years.
• Central Government would provide equal contribution in the beneficiary's account. For e.g. if a person contributes 90 Rs than central government also contributes 90 Rs as subsidy into his account.
• If an eligible applicant becomes permanently disabled due to any cause before 60 years of age , his spouse can continue with the scheme by payment of regular contribution or exit the scheme by receiving the share deposited by applicant with interest .
• If an eligible applicant dies during the pension receipt his spouse will be entitled to receive 50% of the pension as family pension.
• If an applicant exits PMLVMY within a period of less than 10 years from the date of joining then he would receive his contribution back with saving bank interest rate.
• If an applicant exits after completion of 10 years but before his age of 60 years, then he will be given his share with accumulated interest earned by pension fund or saving bank interest rate whichever is higher.
• If applicant and his spouse die, then corpus shall be credited back to the fund.

Are you eligible for the scheme?

1. Person in the age-group of 18-40 years.
2. The scheme includes all Laghu Vaparies, who are :
   • Self-employed
   • Working as shop owners.
   • Retail traders
   • Rice mill owners
   • Oil mill owners
   • Workshop owners
   • Commission agents
   • Brokers of real estate
   • owners of small hotels, restaurants
3. Small trader whose annual turnover doesn't exceed Rs 15 million.

Documents required :

1. Aadhar Card
2. Saving Bank Account Details
3. Trade License if possible

How to apply?

Contribution to be made by applicant

Contact details:

Joint Secretary and Director General (Labour Welfare) Ministry of Labour and Employment
Government of India
Helpline: 1800 267 6888
E-Mail: vyapari@gov.in | shramyogi@gov.in