National Pension Scheme for Traders and Self Employed Persons Yojana is a
government scheme meant for old age protection and social security of
Shopkeeper’s, Retail traders and Self Employed persons.
Eligibility
- For self employed shop owners, retail owners and other vyaparis
- Entry Age between 18 to 40 years
- Annual turnover should not exceed Rs 1.5 crore
Features
- Assured Pension of Rs. 3000/- month
- Voluntary and Contributory Pension Scheme
- Matching Contribution by the Government of India
Benefits to the family on death of an eligible subscriber
During the receipt of pension, if an
eligible subscriber dies, his spouse shall be only entitled to receive
fifty per cent of the pension received by such eligible subscriber, as
family pension and such family pension shall be applicable only to the
spouse.
Benefits on disablement
If an eligible subscriber has given
regular contributions and become permanently disabled due to any cause
before attaining his age of 60 years, and is unable to continue to
contribute under this Scheme, his spouse shall be entitled to continue
with the Scheme subsequently by payment of regular contribution as
applicable or exit the Scheme by receiving the share of contribution
deposited by such subscriber, with interest as actually earned thereon
by the Pension Fund or the interest at the savings bank interest rate
thereon, whichever is higher.
Benefits on Leaving the Pension Scheme
- In case an eligible subscriber
exits this Scheme within a period of less than ten years from the date
of joining the Scheme by him, then the share of contribution by him only
will be returned to him with savings bank rate of interest payable
thereon.
- If an eligible subscriber exits
after completion of a period of ten years or more from the date of
joining the Scheme by him but before his age of sixty years, then his
share of contribution only shall be returned to him along with
accumulated interest thereon as actually earned by the Pension Fund or
the interest at the savings bank interest rate thereon, whichever is
higher.
- If an eligible subscriber has given
regular contributions and died due to any cause, his spouse shall be
entitled to continue with the Scheme subsequently by payment of regular
contribution as applicable or exit by receiving the share of
contribution paid by such subscriber along with accumulated interest, as
actually earned thereon by the Pension Fund or at the savings bank
interest rate thereon, whichever is higher
- After death of subscriber and his or her spouse, the corpus shall be credited back to the fund.
Entry age specific monthly contribution
Entry Age (Yrs)
(A) |
Superannuation Age
(B) |
Member’s monthly contribution (Rs)
(C) |
Central Govt’s monthly contribution (Rs)
(D) |
Total monthly contribution (Rs)
(Total = C + D) |
| 18 |
60 |
55.00 |
55.00 |
110.00 |
| 19 |
60 |
58.00 |
58.00 |
116.00 |
| 20 |
60 |
61.00 |
61.00 |
122.00 |
| 21 |
60 |
64.00 |
64.00 |
128.00 |
| 22 |
60 |
68.00 |
68.00 |
136.00 |
| 23 |
60 |
72.00 |
72.00 |
144.00 |
| 24 |
60 |
76.00 |
76.00 |
152.00 |
| 25 |
60 |
80.00 |
80.00 |
160.00 |
| 26 |
60 |
85.00 |
85.00 |
170.00 |
| 27 |
60 |
90.00 |
90.00 |
180.00 |
| 28 |
60 |
95.00 |
95.00 |
190.00 |
| 29 |
60 |
100.00 |
100.00 |
200.00 |
| 30 |
60 |
105.00 |
105.00 |
210.00 |
| 31 |
60 |
110.00 |
110.00 |
220.00 |
| 32 |
60 |
120.00 |
120.00 |
240.00 |
| 33 |
60 |
130.00 |
130.00 |
260.00 |
| 34 |
60 |
140.00 |
140.00 |
280.00 |
| 35 |
60 |
150.00 |
150.00 |
300.00 |
| 36 |
60 |
160.00 |
160.00 |
320.00 |
| 37 |
60 |
170.00 |
170.00 |
340.00 |
| 38 |
60 |
180.00 |
180.00 |
360.00 |
| 39 |
60 |
190.00 |
190.00 |
380.00 |
| 40 |
60 |
200.00 |
200.00 |
400.00 |
