[Form] PM Laghu Vyapari Mandhan Pension Yojana (PMLVMY) 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]

The Pradhan Mantri Laghu Vyapari Mandhan scheme has been started by PM Narendra Modi during July 2019. As per the rules of the scheme, Narendra Modi government will provide a monthly pension of rupees 3000 every month as the beneficiaries attain 60 years of age. For enrolment under the scheme, beneficiaries have to visit the nearby CSC centres where agents will help beneficiaries with the registration process. The scheme was expected to come into force from 2019 July. Even the shopkeepers and traders registered under GST and have an annual turnover of up to 1.5 crores can become part of the above-said scheme.

Pradhan Mantri Laghu Vyapari Mandhan Yojana

Launch details

Name of the scheme is  Pradhan Mantri Laghu Vyapari Mandhan Yojana (PMLVMY)
Launch date of scheme July 2019
Target group under the scheme Small traders and shopkeepers
Scheme has been launched by the assistance of Ministry of Labour& Employment
Number of scheme beneficiaries  3 crore
Scheme objective is to  Provide a pension scheme to shopkeepers and traders
Amount of monthly pension  Rupees 3000
Portal NA
Helpline no NA

 Key Features of the PMLVMY

  • Main focus of the scheme – The government has launched the scheme with the primary motive of providing pension benefits to old traders and shopkeepers as soon as they reach 60 years of age. This shall help empower their life by making them self-dependent.
  • Target group under the scheme – The target group of the scheme are the shopkeepers and traders. Also, the scheme includes workers working as retail traders, oil mill owners, shop owners, small hotel owners, commission agents and restaurant workers.
  • Amount allotted for the scheme – As per the scheme benefits, the subscribers of the scheme, the government will give rupees 3000 monthly as scheme benefits as soon as beneficiaries attain 60 years.
  • Equal contribution by the government – As per the rules of the scheme, both subscribers and central government will contribute equally in the pension. However, the old traders can get access to this pension amount upon attaining 60 years. The pension fund will be taken care of by Life Insurance Corporation of India.

Eligibility Criteria for Laghu Vyapari Mandhan Pension Scheme

  • Annual turnover – A Laghu Vyapari can get scheme benefits if he does not has an annual turnover of more than rupees 1.5 crores.
  • Part of one pension scheme–To become part of the above-said scheme, beneficiaries should not be part of any National Pension scheme. If beneficiaries are income-tax assessee, they cannot become part of the scheme benefits.
  • Age limit – To avail scheme benefits, the candidate has to be 18 years of age. However, the upper limit for getting the scheme benefits is 40 years.

Documents Required 

  • Identity proof – During scheme registration, beneficiaries have to provide documents like Aadhaar card, voter ID card, photograph, a proper phone number that is GST registered. These are required at the time of online registration under the scheme.
  • Bank account details – The subscribers of the scheme have to submit the account holder’s name, IFSC code, and other relevant bank details. The bank account should be linked with Aadhaar card as the beneficiary amount will be directly credited in this account.
  • Income certificate – The certificate will help to understand where the person has an annual turnover of more than rupees 1.5 crores of not. The document should be produced at the time of online registration.

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

For enrolment under the scheme, candidates have to collect the application form from the nearby CSC centres. The VLE agents present in the CSC centres will help the shopkeepers and traders to complete the online registration process relating to the scheme. This shall help them to avail the scheme benefits soon.

However, no specific steps of online registration have come out under the scheme. The government is still to declare the steps of online registration. As soon as it comes up, the candidates will be the first to know about it.

What benefits a candidate can get upon leaving the pension scheme?

  1. If the subscriber of scheme wants to leave the scheme benefits before ten years from the date of joining, they will get their share of contribution in the scheme along with bank interest calculated on the current rate.
  2. In case subscriber come out of the scheme benefits after ten years, and they are yet to become 60 years of age, he will get his share of contribution including accumulated interest that he has got based on the pension fund.
  3. If subscriber has made regularly and died suddenly, their share of contribution in the pension fund will be given to their spouse including accumulated interest. Here, the spouse can also continue to make the monthly contribution if they wish to get the pension benefit.
  4. If both the subscriber and spouse die, the pension contribution along with the earned interest will go to the pension fund.

If any subscriber exists, the pension contribution shall be decided by the Central Government.

What are the benefits on disablement?

In case a subscriber is paying regular contributions but he has become disabled permanently before attaining 60 years of age and wish to discontinue with the contribution, their spouse can continue to make a contribution in pension fund. Otherwise, the spouse can choose to exit after the subscriber has become disabled. In this case, the spouse will get the contributed amount along with accumulated interest from the pension fund.

What benefits are given upon death of eligible subscriber?

In case an eligible subscriber dies, half of the pension amount will be given to their spouse. The spouse will get the money under the family pension category upon the death of the subscriber.

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


  1. What is the income limit for Pradhan Mantri Laghu Vyapari Maandhan Yojana? 

Answer: To get pension benefit under the scheme, the annual turnover of an individual should be less than rupees 1.5 crores.

  1. What is the upper and lower age limit set for candidates to get scheme benefits?

Answer: The lower age limit is 18 years, whereas the upper limit is 40 years. However, the pension amount will be given to subscribers only after they attain 60 years of age.

  1. How much premium amount will be given for the scheme?

Answer: The premium amount for the scheme is rupees 3000 on a monthly basis.

  1. Is nominee facility available under the scheme?

Answer: Yes, in case the subscriber dies, spouse can get 50 per cent of pension amount under the family pension category. However, the benefit will be given only to the spouse.

  1. How can subscriber apply under the scheme?

Answer: For the scheme benefits, the subscriber has to visit the nearby common service centre. The VLE agents will help subscribers to fill up the online application for the scheme.

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