PM Karam Yogi Mandhan Yojana Update: Many welfare schemes are being implemented by the central government for the benefit of the poor, youth, women, farmers, labourers, and workers in the unorganized sector. Additionally, the government has launched several pension schemes to ensure that people can secure their future and receive a fixed monthly income in their later years. One such pension scheme introduced by the central government in 2019 is the Pradhan Mantri Karmayogi Mandhan Yojana.
Overview of the PM Karmayogi Mandhan Yojana
The Pradhan Mantri Karmayogi Mandhan Yojana is a pension scheme launched by the central government specifically for small traders, shopkeepers, businessmen, and traders. The scheme is designed to provide a monthly pension of Rs 3,000 (Rs 36,000 annually) to beneficiaries after they turn 60 years old.
Monthly Pension After Age 60
Under the scheme, beneficiaries will receive ₹3,000 per month, which amounts to ₹36,000 annually, after turning 60.
Eligibility and Registration Process
To benefit from this scheme, candidates must register between the ages of 18 and 40. If someone joins at 18, they will pay a premium of ₹55 per month. The premium increases as the beneficiary ages, reaching ₹200 per month at age 40.
Required Documents for Registration
To register, the applicant must have:
- Aadhaar card
- Bank account linked to Aadhaar
- Passport-sized photograph
- GST number
Beneficiaries can visit the nearest CSC (Common Service Center) to apply and link their Aadhaar-based bank account. The pension will be directly credited to the linked bank account.
How To Apply PM Karmayogi Mandhan Yojana online
- Eligibility: Ensure you’re a GST-registered small trader/shopkeeper with an annual turnover of up to ₹1.5 crore, aged between 18 and 40.
- Visit CSC Portal: Go to the official CSC Portal or your nearest CSC centre.
- Fill Application: Provide your Aadhaar, GST number, a bank account linked to your Aadhaar, and a passport-sized photo.
- Premium Payment: Pay the premium based on your age (e.g., ₹55 at 18, ₹200 at 40).
- Verification & Activation: Complete the application with assistance from the CSC agent. Your pension will be directly transferred to your Aadhaar-linked bank account after you turn 60.