Pension for small retail traders or kirana shopkeepers 04/06/2019 – Posted in: Daily News
PENSION FOR SMALL RETAIL TRADERS OR KIRANA SHOPKEEPERS
For: Preliminary
Topic covers: Scheme, objectives and benefits
News Flash
The newly-inducted Union Cabinet, approved a mega pension scheme to provide a minimum assured pension of ₹3000 per month to all small shopkeepers and retail traders once they attain the age of 60 years.
The new scheme is a part of universal social security programme.
The new scheme is a voluntary and contributory pension scheme on a 50:50 basis where a prescribed age-specific contribution shall be made by the beneficiary and a matching contribution by the central government.
Aim
It aims at benefiting over 3 crore traders and shopkeepers.
Who can enroll?
All small shopkeepers and self-employed persons as well as the retail traders with GST turnover below ₹1.5 crore and age between 18-40 years can enroll for this scheme.
- One needs the 12-digit Aadhaar card number and the bank account details for enrolling in the pension scheme.
Source: Livemint
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