PM Laghu Vyapari Mandhan Pension Yojana 2019-20

Pradhan Mantri Laghu Vyapari Mandhan (Karam Yogi) Yojana 2019-20 PMLVMY [Application Form Process, Eligibility, Premium chart, Beneficiary List, Amount, Benefits, Exit Policy]

Prime Minister Narendra Modi has initiated the Pradhan Mantri Laghu Vyapari Mandhan Yojana on Jul 2019. According to the rules of the scheme, the government will provide rupees 3000 monthly pension to traders upon attaining 60 years. The traders and shopkeepers registered under GST with annual turnover up to 1.5 crores get benefits under the above-said scheme. For enrolling under the scheme, beneficiaries have to visit CSC centres where the agents can help beneficiaries will the online registration process. However, it can be expected that the scheme will come into force from July 2019.

Laghu Vyapari Mandhan Yojana PMLVMY

Launch details of the scheme



Pradhan Mantri Laghu Vyapari Mandhan Yojana (PMLVMY)
Aim Provide pension to traders and shopkeepers
Target group Small traders and shopkeepers
Amount   Rupees 3000/month
Number of beneficiaries 3 crore
Related ministry Ministry of Labour & Employment
Announced in Jul 2019


What are the highlighting features of the Pradhan Mantri Laghu Vyapari Mandhan Yojana?

  • Main aim – The scheme has been launched with the primary concern of providing pension benefits to small shopkeepers and traders after they attain 60 years of age. However, with this scheme, the central government is planning to empower old persons and help them live a self-dependent life.
  • Amount – Under this scheme, the subscriber will be given pension of rupees 3000 monthly upon attaining 60 years. However, it will be given through Life Insurance Corporation of India.
  • Target group of the scheme – The shopkeepers and small traders are the target group of the scheme. Laghu Vyapari includes self-employed persons working as retain traders, shop owners, oil mill owners, commission agents, small hotel owners, restaurants workers and the like.
  • Matching contribution – It means that the subscribers and the central government will contribute an equal amount. The total amount will be credited to the linked bank account of the subscriber after they reach 60 years of age.

Life Insurance Corporation of India will administer the pension fund, and this will also be assisted by the central government. However, the eligible subscriber will get a pension in a timely manner only after they attain the age of 60 years. The central government will make a contribution to the pension fund of the subscribers.

What is the eligibility for applying under this PM Laghu Vyapari Karam Yogi Mandhan?

  • Annual turnover – Only the Laghu Vyapari can apply under the scheme with yearly turnover not more than rupees 1.5 crores. In support of this claim, the candidate has to produce relevant identity proof at the time of registration.
  • Age limit – The subscriber should not be less than 18 years of age to avail scheme benefits. Also, the upper limit for applying under the scheme is 40 years of age.
  • Should not be part of National Pension scheme – The subscriber applying for the above-said scheme should not apply for the scheme in case they are covered under National Pension scheme under Central Government’s state insurance corporation. Even if the person is an income-tax assessee, he cannot opt for the above-said scheme.

Documents required for scheme enrolment

  • Identity proof – As identity proof, the candidates should produce Aadhaar card. Photograph, GST registered a phone number for proper verification. The proper documents should be given at the time of online registration.
  • Income certificate – This is required to produce in support of the claim that the subscriber’s annual turnover is less than rupees 1.5 crores. However, this will help to determine whether the subscriber is eligible for the scheme benefits or not.
  • Bank account details – The subscribers of the scheme should produce bank account details such as account holder’s name, IFSC code, passbook number and other relevant details at the time of registration. This shall help to link the bank account to credit the beneficiary amount directly into the linked account.

How to apply for the PM Laghu Vyapari Mandhan Yojana? [Application Form in CSC centre]

For enrolling under Laghu Vyapari Mandhan scheme, the application form will be given from common service centres (CSC). Interested candidates who wish to get scheme benefits under Modi small shopkeepers and traders scheme have to visit the nearby CSC centre, and the VLE agents will help subscribers in filling up the online application form.

However, no other details of the online process have been declared yet by the government. As soon as it comes up, beneficiaries can know it from the online scheme portal.

Benefits on leaving the Pension Scheme

  1. When any subscriber of the scheme wishes to leave scheme benefits before less than ten years calculated from the date of joining, he will be given his share of contribution in the scheme along with savings banks rate of interest-based on the current rate.
  2. When subscriber comes out of the scheme policy after ten years from the date of joining, but he is yet to become 60 years, his contribution will be given to him along with the accumulated interest that he has earned through the pension fund policy.
  3. For a subscriber who has paid a regular contribution and has died a sudden death, the contribution will be given to spouse along with accumulated interest. Other than this, the spouse can also wish to continue with the pension scheme by making the monthly contribution.
  4. In case of death of both subscriber and spouse, the contributed pension amount will be credited back to the pension fund.

However, in case of exit, including nomination, the pension contribution will be decided the Central Government by giving timely instructions.

Benefits on disablement

For any eligible subscriber paying a regular contribution in the pension fund but have become permanently disabled due to some reason before attaining 60 years and discontinues the contribution, the spouse will be informed to continue with the scheme by making regular contributions in the pension fund. Other than this, after the subscriber has become disabled, the spouse can also choose to exit the scheme and get the contribution along with accumulated interest thereon.

Benefits to the family on the death of an eligible subscriber

Clauses have also been decided to provide pension benefits to the eligible subscriber who is dead. At the time of receiving the pension, in case the subscriber dies, only fifty per cent of pension will be given to his spouse. This will be given under the family pension category only to his spouse.

Premium Chart of PM Laghu Vyapari Mandhan Yojana –

Enter age Beneficiary Contribution (Rs) Central Government Contribution (Rs)  Total Contribution (Rs)
18 55 55 110
19 58 58 116
20 61 61 122
21 64 64 128
22 68 68 136
23 72 72 144
24 76 76 152
25 80 80 160
26 85 85 170
27 90 90 180
28 95 95 190
29 100 100 200
30 105 105 210
31 110 110 220
32 120 120 240
33 130 130 260
34 140 140 280
35 150 150 300
36 160 160 320
37 170 170 340
38 180 180 360
39 190 190 380
40 200 200 400

FAQ’s –

Q: What are the income criteria under the Pradhan Mantri Laghu Vyapari Maandhan Yojana?

Ans: For getting benefits under Pradhan Mantri Karam Yogi Maandhan Scheme, annual turnover is less than Rs 1.5 crore.

Q: What is the premium amount for the PMLVMY?

Ans: The premium amount for PMLVMY is rupees 3000 that will be given on a monthly basis to the beneficiaries under the scheme.

Q: What is the age limit for this pension scheme?

Ans: The entry age limit for the pension scheme is 18 years and the maximum limit for the same is 40 years. However, the scheme will start upon attaining the age of 60.

Q: Nominee facility is available or not?

Ans: Yes, if the candidate dies, beneficiary spouse will get 50 percent of the pension as family pension. Therefore, the family pension is applicable only to spouse.

Q: How Can I apply for the scheme?

Ans: For applying under the scheme, the candidate has to visit the Common Services Centers. Here, VLE agents shall help in filling the online application.

Other links –


Updated: August 16, 2019 — 6:39 am