The central government runs various welfare schemes for the poor, youth, women, farmers, labourers, and workers in the unorganized sector. In addition, the government has introduced several pension schemes to ensure that people’s futures are secure. These schemes provide a fixed monthly amount after a certain age to help with living expenses. One such pension scheme, launched by the central government in 2019, is the Pradhan Mantri Karmayogi Mandhan Yojana.
Who Can Benefit from Karmayogi Mandhan Yojana?
The Pradhan Mantri Karmayogi Mandhan Yojana is designed for small traders, shopkeepers, businessmen, and traders. To be eligible for this scheme, individuals must be registered under GST, and their annual turnover should not exceed ₹1.5 crore. Beneficiaries of this scheme will receive a pension of ₹3,000 per month (₹36,000 annually) after they reach the age of 60 years.
Monthly Pension Details
Under the Karmayogi Mandhan Yojana, beneficiaries will receive ₹3,000 per month, totalling ₹36,000 annually, after they turn 60. This scheme ensures a fixed pension amount for eligible individuals once they reach retirement age.
Age and Premium Requirements
To avail of this scheme, candidates must register between the ages of 18 and 40:
- At 18 years: The monthly premium is only ₹55.
- At 40 years: The monthly premium increases to ₹200.
- In-between Ages: The premium amount varies depending on the age at which the person joins the scheme.
- The earlier you join, the lower the monthly premium you need to pay.
Documents Needed for Registration
To register under this scheme, you will need:
- Aadhaar card
- Aadhaar-linked bank account
- Passport size photo
- GST number
How to Apply
Visit your nearest CSC (Common Service Center) for the registration process. Provide all required documents and information to the CSC agent, who will assist you in applying online.
Direct Transfer of Pension
The pension amount will be transferred directly to your Aadhaar-linked bank account. Therefore, make sure your bank account is updated and linked with Aadhaar to receive the benefits smoothly.