Lok Sabha Question No. 1318 (UNSTARRED), answered on 2020-02-10
Subject: NPS for Traders
Ministry: FINANCE
Asked by: Kotagiri Sridhar

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

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## LOK SABHA UNSTARRED QUESTION NO. 1318 TO BE ANSWERED ON FEBRUARY 10, 2020/MAGHA 21, 1941 (SAKA) NPS FOR TRADERS

1318. Shri Sridhar Kotagiri

Will the Minister of FINANCE be pleased to state:

- (a) whether  the  National  Pension  Scheme  (NPS)  for  Traders  and  Self  Employed  Persons  (Pradhan Mantri  Laghu  Vyapari  Maan-dhan  Yojana)  is  a  voluntary  and  contribution  based  central  sector scheme;
- (b) if so, the details thereof; and
- (c) the details of the total number of traders and self employed people who have joined this scheme so far, State-wise?

## ANSWER

The Minister of State (Finance) (Shri Anurag Singh Thakur)

(a) to (c) As informed by the Ministry of Labour and Employment, the National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons (Pradhan Mantri Laghu Vyapari Maan-Dhan Scheme), launched on 12.09.2019, is a voluntary and contributory pension scheme with the following salient features:-

-  Enrolments  through  the  Common  Service  Centres  (CSCs)  and  online  self  enrolment  through www.maandhan.in portal;
-  50% monthly contribution by the beneficiary with matching contribution by the Central Government.
-  Subscribers, after attaining the age of 60 years, are eligible for a monthly minimum assured pension of Rs.3,000/-.

Eligibility : The traders in the age group of 18-40 years with an annual turnover, not exceeding Rs.1.5 crore and who are not a member of EPFO/ESIC/NPS (Government funded)/PM-SYM or an income tax payer, can join the scheme.

Life Insurance Corporation (LIC) of India is the pension fund manager responsible for managing the pension fund, to act as central recordkeeping agency and responsible for pension payout.

As informed by LIC, 30,025 enrolments have taken place under the Scheme, as on 03.02.2020. The Statewise details are at Annexure A.

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State wise summary of enrolments under PM Laghu Vyapari Maan-dhan Yojana (as on 03rd February 2020)

| Name of State               | Number of enrolments   |
|-----------------------------|------------------------|
| Andaman And Nicobar Islands | 87                     |
| Andhra Pradesh              | 4,899                  |
| Arunachal Pradesh           | 65                     |
| Assam                       | 323                    |
| Bihar                       | 648                    |
| Chandigarh                  | 1,657                  |
| Chhattisgarh                | 3,929                  |
| Dadra And Nagar Haveli      | 5                      |
| Daman And Diu               | 16                     |
| Delhi                       | 95                     |
| Goa                         | 1                      |
| Gujarat                     | 3,004                  |
| Haryana                     | 791                    |
| Himachal Pradesh            | 69                     |
| Jammu And Kashmir           | 66                     |
| Jharkhand                   | 322                    |
| Karnataka                   | 712                    |
| Kerala                      | 68                     |
| Madhya Pradesh              | 376                    |
| Maharashtra                 | 704                    |
| Manipur                     | 16                     |
| Meghalaya                   | 25                     |
| Nagaland                    | 9                      |
| Odisha                      | 393                    |
| Puducherry                  | 121                    |
| Punjab                      | 165                    |
| Rajasthan                   | 605                    |
| Tamil Nadu                  | 347                    |
| Telangana                   | 319                    |
| Tripura                     | 208                    |
| Uttar Pradesh               | 8,895                  |
| Uttarakhand                 | 711                    |
| West Bengal                 | 374                    |
| Total                       | 30,025                 |

Source- Life Insurance Corporation of India