Pradhan Mantri Laghu Vyapari Mandhan Yojana: The government runs various schemes to provide social and economic security to all sections of society. The PM Laghu Vyapari Mandhan Yojana is one such scheme. Through this initiative, the scheme provides a monthly pension to small and retail traders across the country. The scheme secures the traders’ future by offering a monthly pension of ₹3,000 upon reaching the age of 60. Under the PM Mandhan Yojana, the investment amount is determined based on the individual’s age.

It is worth noting that this scheme is administered by the Ministry of Labour and Employment. Traders make investments under the PM Vyapari Mandhan Yojana, and the government contributes an equal amount. Any small or retail trader aged between 18 and 40 years is eligible to apply for this scheme.

How to contribute to the scheme
Individuals make contributions to this government scheme based on their age, which range from ₹55 to ₹200. Individuals aged 18 to 40 can avail themselves of the benefits of this government pension scheme. The government matches the amount invested by the individual, and a monthly pension of ₹3,000 is provided after the beneficiary turns 60.

Who can avail the benefits of the scheme?
The government has designed this scheme specifically for traders. Shop owners, merchants, retail traders, small hotel owners, commission agents, real estate brokers, and other traders can benefit from it. However, it is mandatory that the trader’s annual income be less than ₹1.5 crore.

Documents required
To avail the benefits of this government scheme, the beneficiary must possess an Aadhaar card, a copy of their bank passbook, a GST registration number, a passport-sized photograph, and a mobile number.

How to apply easily
First, visit the official website of the Ministry of Labour and Employment.
Then, click on the “Click here to apply” link on the home page. Next, click on ‘Self-Enrolment’.
Now, enter your mobile number and click to proceed.
Then, enter the OTP received on your mobile number.
You will now need to fill in all the details in the application form and upload scanned copies of the required documents.
After uploading the information and documents, click on ‘Submit’.
The application process will then be completed.