Pension Week to be celebrated from 30th Nov-6th Dec

The Ministry of Labour and Employment has decided to celebrate Pension Week from 30th November-6th December 2019 to drive enrolments and create awareness about the National Pension Scheme for Traders and Self-Employed Persons (NPS-Traders) and Pradhan Mantri Shram Yogi Maandhan (PM-SYM).

The ministry aims to enroll 50 lakh beneficiaries under NPS-Traders and 1 crore beneficiaries under PM-SYM by March 2020.

Both schemes come with a provision of minimum assured Rs 3000 monthly pension on attaining the age of 60 years.

For enrolment, the beneficiary is required to have a saving bank/Jan-Dhan account passbook and Aadhar card only.

Any person within the age group of 18-40 years can enroll themselves under the scheme.

National Pension Scheme for Traders and Self-Employed Persons(NPS-Traders) was launched by Prime Minister Narendra Modi on 12th September 2019 from Ranchi, it is a pension scheme for shopkeepers/retail traders and self-employed persons with an annual turnover of less than Rs 1.5 crore.

Pradhan Mantri Shram Yogi Mandhan (PM-SYM) was launched in February 2019. It is for the laborers working in the unorganized sector.