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Aadhar Card now mandatory to get benefits of National Pension Scheme

For greater transparency and identification process, the Central government has made it mandatory to link the Aadhaar card with the NPS (National Pension Scheme) account for eligible traders and self-employed individuals to avail the perks of the social security scheme more safely.

The National Pension System was launched by the Government of India on 1st January 2004 with the aim to provide retirement pension to all citizens. As a social security initiative, it allows people to generate a considerable amount of revenue at the time of retirement. In order to do avail the benefit, a person has to open a single NPS account in which he/ she has to deposit either Rs 500 monthly or Rs 6000 annually. In return of investment, the government provides a monthly pension to people as soon as they turn 60. From the NPS, a part of the amount (lump sum quantity) can be withdrawn and the remaining part is to be used to purchase an annuity so that he/she can get a regular income after retirement. Initially, it was for the new central government employees(except armed forces).

However, from 1st May 2009, NPS has been extended for all citizens of the country. In order to encourage people from the self-employed sector, trading community the government launched the National Pension Scheme for Traders and Self Employed Persons Yojana in 2019 to provide old-age protection and social security for shopkeepers, retail traders, and Self Employed persons. Here both the government and the beneficiary will contribute to the pension account. Thus, providing a window for an investment option for the new beneficiaries, wherein they can save for their retirement.

Highlights of 2019 Pension Scheme:

  1. The beneficiary will be allotted a unique PRAN (Permanent Retirement Account Number), which can be used from any part of India
  2. PRAN provides access to two personal accounts- Tier I Account is a non-withdrawable account meant for savings for retirement. Second, Tier II Account is a voluntary withdrawable savings account.
  3. Rs 3000 monthly pension will be provided to traders and self-employed individuals as soon as they turn 60 years.
  4. It is both voluntary and contributory in nature.


  1. The annual turnover should not exceed Rs 1.5 crore
  2. People within 18 to 40 years can invest in the scheme, in which the Central Government would contribute 50% share of the monthly contribution. And the remaining 50% will be made by the beneficiary.
  3. Should be able to partake in monthly contributions ranging between Rs 55 to Rs 200 per month till they attain the age of 60.
  4. Individuals if engaged in an organized sector or have membership of EPF/NPS/ESIC); taxpayer; beneficiary of PM-SYM scheme are exempted.

Where to apply:

Either through or visit the nearest CSCs to enrol under the scheme.

For more information on the scheme, visit  or call 1800 267 6888








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