March 27, 2023

Pradhan Mantri Laghu Vyapari Man-Dhan Yojana

The National Pension Scheme for Traders and Self-Employed Persons Yojana, also known as the Pradhan Mantri Laghu Vyapari Man-Dhan Yojana (PMLVMY), is a government scheme that provides old age protection and social security for small-scale traders and retailers. Under this scheme, small-scale traders, retailers, and Vyapari.

The PMLVMY is a contributory and voluntary pension scheme for Vyaparis. The eligible beneficiaries under the scheme must give a monthly contribution to receive a pension after attaining 60 years. The government also provides an equal amount as a contribution to this yojana. The Life Insurance Corporation of India (LIC) acts as the pension fund manager and is responsible for the disbursement of pension amounts.

Let us understand a bit more about this scheme in this article.

Eligibility Criteria of the PMLVMY Yojana

The eligibility criteria for the PMLYMY Yojana are as follows:-

1. An individual must be a self-employed shop owner, retail owner, or Vyapari.

2. The individual must be between 18 to 40 years.

3. The annual turnover of the individuals should not exceed Rs.1.5 crore.

4. The individual should not be covered under the National Pension Scheme contributed by the Central Government or a member of the NPS, EPFO, or ESIC.

5. The individual should not be an income taxpayer.

6. The individual should not be enrolled under the Pradhan Mantri Shram Yogi Maan-Dhan Yojana or the Pradhan Mantri Kisan Maan-Dhan Yojana administered by the Ministry of Labour and Employment or Ministry of Agriculture and Farmers Welfare, respectively.

7. The individual should have an Aadhaar card and a savings bank account number with IFSC.

Benefits of the PMLVMY Yojana

1. Pension benefits

Pension benefits beneficiaries will have to contribute a sum ranging from Rs.55 to Rs.200 every month until they attain 60 years. The contribution sum varies as per the age of the subscribers/beneficiaries. The beneficiaries will receive a minimum pension of Rs.3, 000 per month after 60 years.

2. Benefits on disablement

When eligible subscribers have regularly contributed to the PMLVMY but become permanently disabled before attaining 60 years and cannot continue the monthly contribution, their spouse is entitled to continue the scheme by paying the regular contribution .

3. Benefits of leaving the Yojana

When eligible subscribers exit the PMLVMY within ten years of joining the yojana, only the contributed amount will be returned to them with a savings bank interest rate. When eligible subscribers exit the PMLVMY after completion of ten years or more from the date of joining but before attaining 60 years, only the share of contribution will be returned along with the interest as earned by the pension fund or at the savings bank interest rate, whichever is higher.

PMLVMY Application Process

The application process for PMLVMY includes the following:-

1. Interested persons should visit the nearest CSC (Common Services Centre).

2. The interested persons should have the following documents for enrolment:

a. Aadhaar card

b. Jan Dhan or savings bank account details along with IFSC code (Bank passbook, bank statement, or cheque leave/book as evidence of bank account)

3. The eligible subscriber should pay the initial contribution in cash to the Village Level Entrepreneur (VLE).

4. The VLE will enter the details, such as the Aadhaar number, beneficiary name, and date of birth, for authentication.

5. The VLE will do the online registration and fill up the details like Mobile Number, Bank Account details, Email Address, Annual Turnover Income, GSTIN, Spouse (if any), and Nominee details.

6. The subscriber should do the self-certification for eligibility conditions.

7. The system will calculate the monthly contribution payable according to the beneficiary’s age.

8. The beneficiary will have to pay the first subscription to the VLE.

9. The beneficiary should sign the enrolment cum auto-debit mandate form. The VLE will scan the mandate form and upload it to the system.

10. A unique Vyapari Pension Account Number (VPAN) will be generated, and a Vyapari card will be printed.


1. What are some important documents needed for the PMLVMY application process?

Some of the important documents needed are the Aadhar card, Jan dhan or saving bank account details along with the IFSC code (bank passbook, bank statement, or checkbook)

2. What is the age limit to be a part of the PMLYMY scheme?

The age limit to be a part of the PMLYMY scheme is around 18-45 years of age.


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