- NPS-Traders provides a minimum assured pension of ₹3,000 per month after 60 years.
- Eligible traders, shopkeepers and self-employed persons aged 18–40 years can join.
- Monthly subscriber contribution ranges from ₹55 to ₹200, with an equal Government contribution.
- The scheme provides 50% of the subscriber’s pension as family pension to the spouse, subject to scheme rules.
- Maandhan Department Phone Number: 1800 267 6888
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Summary of the Scheme
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|---|---|
| Name of Scheme | Pradhan Mantri Laghu Vyapari Maan-dhan Yojana (PM-LVM) |
| Launch Year | 2019 |
| Benefits | Minimum assured pension of ₹3,000 per month after 60 years |
| Beneficiary | Traders, shopkeepers and self-employed persons aged 18–40 years |
| Nodal Agency | Ministry of Labour & Employment |
| Subscription | Subscribe here to get Update Regarding Scheme |
| Mode of Apply | Online through Maandhan portal or offline through Common Service Centres (CSCs) |
Pradhan Mantri Laghu Vyapari Maan-dhan Yojana (PM-LVM): A ₹3,000 Monthly Pension for Traders and Shopkeepers
Small traders and shopkeepers rarely have a pension to fall back on. This scheme offers a minimum assured pension of ₹3,000 a month after age 60. You contribute ₹55 to ₹200 a month, and the Central Government matches it.
The scheme has been renamed. The word “Laghu” was dropped from the title on the PMO’s advice. It was formally launched on 12 September 2019 as the National Pension Scheme for Traders and Self Employed Persons, and government records now call it the National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons (NPS-Traders). PM-LVM is its former name. Check the Maandhan portal for the latest enrolment status before you plan to join.
What is the scheme?
It is a voluntary and contributory pension scheme run by the Ministry of Labour & Employment. It was originally notified on 22 July 2019. It is aimed at traders, shopkeepers and self-employed persons who have no regular pension. Enrolment is through Common Service Centres (CSCs) or self-enrolment on the Maandhan portal.
Scheme at a glance
| Benefit | Minimum assured pension of ₹3,000 a month after age 60 |
| Who can join | Traders, shopkeepers and self-employed persons aged 18 to 40 |
| Your contribution | ₹55 to ₹200 a month, based on entry age |
| Government contribution | Equal to yours |
| Nodal agency | Ministry of Labour & Employment |
| Mode of enrolment | Maandhan portal (self-enrolment) or a CSC |
| Toll-free | 1800 267 6888 |
Key benefits
- ₹3,000 a month as a minimum assured pension from age 60
- Matching Government contribution to your monthly payment
- Family pension: if you die while receiving the pension, your spouse gets 50% of it
- Spouse can continue: if you die before 60 after paying regularly, your spouse can continue the scheme by paying the contributions, or exit under the rules
Monthly contribution by entry age
| Entry age | You pay | Government pays | Total |
|---|---|---|---|
| 18 | ₹55 | ₹55 | ₹110 |
| 19 | ₹58 | ₹58 | ₹116 |
| 20 | ₹61 | ₹61 | ₹122 |
| 21 | ₹64 | ₹64 | ₹128 |
| 22 | ₹68 | ₹68 | ₹136 |
| 23 | ₹72 | ₹72 | ₹144 |
| 24 | ₹76 | ₹76 | ₹152 |
| 25 | ₹80 | ₹80 | ₹160 |
| 26 | ₹85 | ₹85 | ₹170 |
| 27 | ₹90 | ₹90 | ₹180 |
| 28 | ₹95 | ₹95 | ₹190 |
| 29 | ₹100 | ₹100 | ₹200 |
| 30 | ₹105 | ₹105 | ₹210 |
| 31 | ₹110 | ₹110 | ₹220 |
| 32 | ₹120 | ₹120 | ₹240 |
| 33 | ₹130 | ₹130 | ₹260 |
| 34 | ₹140 | ₹140 | ₹280 |
| 35 | ₹150 | ₹150 | ₹300 |
| 36 | ₹160 | ₹160 | ₹320 |
| 37 | ₹170 | ₹170 | ₹340 |
| 38 | ₹180 | ₹180 | ₹360 |
| 39 | ₹190 | ₹190 | ₹380 |
| 40 | ₹200 | ₹200 | ₹400 |
Someone who joins at 29 pays ₹100 a month and the Government adds ₹100. Contributions continue until age 60.
Who is eligible?
- You must be an Indian citizen.
- You must be 18 to 40 years old when you join.
- You must be a retail trader, shopkeeper or self-employed person.
- Your annual business turnover must not exceed ₹1.5 crore.
- You must not be an income-tax payer.
- You must not be a member of EPFO or covered by ESIC.
- You must not be covered under the National Pension System (NPS), as specified by the scheme.
- You must not be enrolled under PM-SYM.
Documents and details to keep ready
- Aadhaar card
- Savings bank or Jan Dhan account details
- Bank IFSC
- Mobile number
- GSTIN, where applicable
Check that your Aadhaar and bank details are correct, to avoid problems with enrolment and later contributions.
How to enrol
Through a Common Service Centre
- Visit a nearby CSC with your Aadhaar and bank details.
- Tell the operator you want to enrol in the trader pension scheme.
- Give your personal, Aadhaar and bank details.
- Complete Aadhaar authentication and the eligibility self-declaration.
- Confirm your turnover is within the limit and that you meet the exclusion conditions.
- Pay the first contribution for your entry age.
- Complete the auto-debit mandate for monthly contributions.
- Keep your pension account details or pension card safe.
Online, on the Maandhan portal
- Open the Maandhan portal and find the self-enrolment option for the trader pension scheme.
- Enter your mobile number and complete the OTP verification.
- Provide your personal, Aadhaar, bank and eligibility details.
- Make the declarations on turnover and eligibility.
- Enter the contribution and payment details as directed.
- Complete the enrolment and save the acknowledgement or pension account details.
If you’re unsure about eligibility or the contribution amount, ask a CSC for help before enrolling.
Leaving the scheme early
| Situation | What happens |
|---|---|
| Exit within 10 years of joining | Your contribution is returned with savings bank interest |
| Exit after 10 years but before 60 | Your contribution is returned with accumulated interest actually earned by the fund, or savings bank interest, whichever is higher |
| Death before 60 | Spouse can continue by paying contributions, or exit |
| Permanent disability before 60 | Spouse can continue by paying contributions, or exit |
| Death after 60, while receiving pension | Spouse gets 50% as family pension |
| Death of both subscriber and spouse | The corpus goes back to the pension fund |
| Missed contributions | Arrears can be paid with the applicable penalty or charges |
The source says these exit rules could not be independently verified on the Maandhan portal, so check them against the current scheme rules before relying on them.
PM-LVM vs PM-SYM
| PM-LVM (NPS-Traders) | PM-SYM | |
|---|---|---|
| For | Traders, shopkeepers, self-employed persons | Eligible unorganised workers |
| Entry age | 18 to 40 | 18 to 40 |
| Financial limit | Annual turnover up to ₹1.5 crore | Monthly income up to ₹15,000 |
| Contribution | ₹55 to ₹200, matched by the Government | ₹55 to ₹200, matched by the Government |
| Pension | ₹3,000 a month after 60 | ₹3,000 a month after 60 |
Income-tax payers and people covered by EPFO, ESIC or NPS are ineligible for both. A person enrolled in PM-SYM can’t enrol in PM-LVM.
Related scheme
Pradhan Mantri Shram Yogi Maandhan Yojana (PM-SYM) is the comparable pension for unorganised sector workers.
Need help?
- Toll-free: 1800 267 6888
- Email: vyapari@gov.in, shramyogi@nic.in
- Address: Shram Shakti Bhawan, Rafi Marg, New Delhi 110001
Frequently asked questions
How much pension does the scheme give?
A minimum of ₹3,000 a month after age 60.
What is the monthly contribution?
₹55 to ₹200, depending on your entry age, with an equal Government contribution.
What is the turnover limit?
₹1.5 crore a year.
Can an income-tax payer join?
No.
Can a PM-SYM member join?
No.
What happens to the pension after the subscriber’s death?
The spouse gets 50% as family pension if the subscriber was receiving the pension.
How do I enrol?
Through a CSC or on the Maandhan portal.