PM Laghu Vyapari Mandhan Pension Yojana 2022 (PMLVMY)

Pradhan Mantri Laghu Vyapari Mandhan (Karam Yogi) Pension Yojana 2020 (PMLVMY) [Online Application Form Download, Eligibility, Premium chart, Beneficiary List, Amount, Benefits, Exit Policy, How to Apply, FAQ]

Prime Minister of India, Narendra Modi has mentioned on several occasions that the prosperity and development of the nation will not be possible without growth of business sector. The small and micro business owners require financial support from the central government for advancement. The Modi government has already made arrangements for that. But such business owners suffer from financial hardships at an old age. With the implementation of PM Laghu Vyapari Mandhan Pension Yojana, individuals who own small and micro businesses can secure a pension by contributing in their pension fund. To know more about the features, eligibility, documents and registration, read this article.

Pradhan Mantri Laghu Vyapari Mandhan Pension Yojana

Launch details

Name of the scheme

PM Laghu Vyapari Mandhan Pension Yojana or PMLVMY

Other name

National Pension Scheme for Traders and Self Employed Persons Yojana

Launched in


Launched by

Narendra Modi

Date of announcement

2019 – 2020

Official implementation date

July 2019

Target beneficiaries

Small business owners and retailers

Supervised by

Ministry of Labor and Employment

Pension amount

3000 Rs


Helpline Number


 Key features of the PM Laghu Vyapari Mandhan Pension scheme

  • Pension scheme

The project will encourage small and micro business owners to contribute money in a central government pension scheme to ensure financial security when they get old.

  • Amount offered as pension

As per the old age scheme draft, beneficiaries will receive Rs. 3000 as pension.

  • Frequency of payment

Beneficiaries will attain the old age pension amount in their bank accounts once every month.

  • Premium contribution by beneficiary and central government

The pension scheme has a 50:50 partnership scheme. The central government will match the premium amount that the beneficiary pays. If the applicant pays Rs. 55, then the central government will also contribute Rs. 55 in the pension fund.

  • Premium calculation

It is the responsibility of the public assistant at the CSC to calculate the payable premium. The amount will depend on the age at which the applicant enrolls.

  • Age bracket for application

Only legal applicants, meaning candidates who have attained the age of 18 years can register. The maximum age limit to become a member of this pension scheme is 40 years.

  • Range of premium amount

It is better for the applicant to start early as then the premium amount will be as low as Rs. 55 each month. If the candidate joins the scheme late, then he/she may have to shell out as much as Rs. 200 every month. So, the premium range is anything between Rs. 55 and Rs. 200

  • Beneficiary numbers

Nearly 3 crore small and marginal business owners, merchants and retail store owners will be able to attain the perks of this project.

  • Establishment of CSCs

As the registration will be done through the Common Service Centers, central government has already passed the project to establish as many as 3.25 lakh CSCs in the country.

  • Budget allocations

The Modi government is hell bent on making this scheme successful. In this regard, the central government has set aside a sum of Rs. 750 crore. It will be used to ensure the success of this scheme.

  • Pension fund activation

The central government has highlighted in the scheme guideline that as soon as the beneficiary reaches the 60 year age mark, he/she will start getting the old age pension.

  • Interest on accumulated money

The banks will also offer an interest on the money that has accumulated in the beneficiary’s old age pension account.

  • Provision to quit

If any beneficiary wants to stop the monthly contribution towards the old age pension scheme, then he/she can do so by submitting an application. After this, he/she will get the money that has accumulated in the account.

  • Supervision

LIC has been chosen as the nodal agency that will manage the scheme related aspects.

  • Nominee selection

The primary pension holder can name his/her spouse or any other person as a nominee, who will get Rs. 1500 as a family pension.

Eligibility Criteria for PM Laghu Vyapari Mandhan Pension Yojana

  • Must be an Indian resident

Only a legal resident of India, who fulfills the other requirements, can apply and get the pension benefits.

  • Small business owners

The scheme has been designed and developed for the benefit of small business owners, traders, merchants and small retailers.

  • Annual turnover limit

Those store or business owners, who have a yearly turnover that exceeds Rs. 1.5 lakhs, will be barred from being a part of this project.

  • Age requirements

The pension scheme only allows the enrollment of those applicants who are not less than 18 years and not more than 40 years of age.

Documents necessary for PMLVMY

  • Residence proof

Residential proof is a must that highlights that the applicant is a legal resident of a particular state or union territory, which comes under the jurisdiction of Indian government.

  • Age proof

When enrolling for the scheme, applicants must offer a legal age proof for background checks.

  • Aadhar card

For aiding the identification of the applicant, CSC public assistants will need their Aadhar card.

  • Business registration documents

Every small business or retail store owner must provide photocopies of business registration papers. Additionally, applicants need to submit their annual turnover documents.

  • Trade license

If the business owner has a trade license, then a copy of that document must be submitted as well.

  • GST documents

The business owner needs to submit the GST registration documents and GST return files.

  • Bank account details

It is mandatory for the interested applicants to have a bank account. The details of this account will be needed for smooth transfer of money.

How to Download application form for PM Laghu Vyapari Mandhan Pension –

  • Easy access to official portal – Beneficiaries who wish to avail the scheme benefits have to apply through the PM Laghu Vyapari Mandhan Yojana official portal. They have to click on the right link to access to its home page.
  • Starting application process –As you reach the official portal, you have to click on the ‘Click here to apply now’ option. You can get it from the right corner of the home page. By following the correct steps, it will be easy for you to complete the application procedure easily.
  • Selecting enrollment type – If you are the first time applicant, selecting the right enrollment type is necessary. You have to select from ‘self-enrollment’ option and click on ‘CSC VLE’ suggestion. If the beneficiary is enrolling for own, they have to click on the first option.
  • Use registered mobile number – Proper mobile number verification is important. When trying to generate OTP, applicants will receive it in the registered mobile number. Also, the mobile number should be an activated one for easy use. After entering the correct OTP received on the mobile number, you have to click on the ‘proceed’ option.
  • Verification process – After mobile registration, verification is also required. In the verification box, applicants have to provide details like email IDs, names and the like. After entering the details, they have to click on the captcha code in the given box. Soon after this, you have to click on the box that will generate the OTP.
  • OTP verification –You will receive the OTP on the registered mobile number. You will get it as SMS, and then you have to type the OTP in the given field in the application form. However, to complete the process, you have to click on the ‘proceed’ option in the last.
  • Easy access to scheme dashboard – While filling up the application form, you can go back to the previous step where the dashboard of the scheme opens. Here, few options are given and one of them is given as ‘enrollment.’ Through this option, you will be forwarded with the enrolment procedure.
  • Select the right scheme–After clicking on the enrolment option, you have to select the right scheme from the drop down that comes up. So, here you have to choose National Pension Scheme for Traders and Self Employed Persons Yojana option from the list.
  • Choose online registration form–After selecting the right name of the scheme from the list, the online application form will show up. Now, you have to fill up the application form with correct details. Try not to enter incorrect details as it may result in rejected of your application form.
  • Submission of application form –After you have entered the correct details in the form, you have to click on the ‘submit’ option. You can get the option from the bottom of the form. If you have to correctly fill in the application form, you will receive a subscription ID.

How to check the status for the scheme?

  1. For checking the status of your application form under the above-said scheme, you have to click on the right official link.
  2. After this, the applicants can see a tab marked as ‘complete’ on the upper right corner of the official portal. Soon after this, a new page will open up.
  3. After the page shows up, the applicants have to type their subscription IDs in the given box to get access to the detailed information.
  4. Following this, the applicant has to click on the ‘search’ icon to get further details. From this, the registered applicants can get access to the list of applicants who can get the benefits under the scheme.

Registration Process for PMLVMY (Offline)

  1. Candidates must get to the CSC near them, and submit the important documents, which have been mentioned above.
  2. The public assistants at the centers will check the documents, and run necessary background checks.
  3. It is the job of these assistants to fill in the details in the pension scheme registration form.
  4. After this, all necessary documents must be attached with the enrollment form.
  5. Next, they will calculate the amount that the business owner must pay as the premium for the pension scheme.
  6. The first installment payment will be done through the bank account, maintained by the central government for this scheme. The CSC public assistants have access to this account.
  7. Once the money is deposited, the pension account will be opened in the name of the respective beneficiary.
  8. The beneficiary must pay the CSC public assistant an amount that is equal to the monthly premium.
  9. After this, an online Pension Scheme Card will be generated and issued to the beneficiary. Additionally, the software that monitors the pension project will generate a code that will be mentioned on the card.
  10. Once the details of this card are linked with the bank account, the premium amount will be deducted automatically each month.
  11. Beneficiaries will get an SMS at the registered mobile number highlighting this information.

Premium Chart of PMLVMY –

Enter ageBeneficiary Contribution (Rs)Central Government Contribution (Rs) Total Contribution (Rs)

 Exit and withdrawal details for PMLVMY –

  1. A beneficiary is welcome to apply and exit the pension scheme before the completion of 10 years of premium payment. He/she will receive the money that has accumulated in the fund. He/she will also get the interest on that amount, as per bank rules.
  2. A beneficiary can exit the scheme after contributing in the fund for more than 10 years. In this case, the beneficiary will get the accumulated money and an interest amount, calculated on the sum.
  3. Sometimes, the primary pension account holder may die before completing 60 years. The spouse can continue the pension premium contribution, and after the term is over, he/she will attain the specified pension. Otherwise, the spouse can submit an application to close the account. In that case, he/she will get the accumulated money, with interest in one installment.
  4. The central government will maintain a separate corpus fund for this scheme. In case any beneficiary and his/her spouse die, without mentioning any nominee, then the accumulated sum will be deposited in the common fund.
  5. It is also possible to name a nominee, who will be entitles to attain the money after the death of the old age pension holder.

Big store owners and business organizations have enough money to lead a financially sound future. But the same is not true for the small business and retail store owners. With advancing age, these store owners cannot work. It has a direct impact on their financial health. With this new pension scheme that has been developed for the small business owners, the central government is paving a path for steady monthly income. It may not be much, but will help beneficiaries as much as it can.


Q: Who can apply for this scheme?

Ans: Only those business owners and shop keepers can apply who fall in the small or marginal category.

Q: How much pension will the applicants attain?

Ans: Every pension holders will be entitled to attain Rs. 3000 as pension.

Q: Will they get the pension monthly or yearly?

Ans: The beneficiaries will get the pension on a monthly basis.

Q: What is the annual turn-over limit for interested applicants?

Ans: No business owner, with a yearly turn-over of more than Rs. 1.5 lakhs can apply for the pension plan.

Q: What is the age requirement to be part of this pension scheme?

Ans: The age of any interested applicant must not be less than 18 years and should not cross 40 years.

Q: When will the pension payment start?

Ans: As soon as the beneficiary reaches the 60 year mark, he/she will start getting the pension.

Q: Can an applicant quit after registration?

Ans: Yes. Applicants can quit from the scheme.

Q: Is GST certificate necessary?

Ans: It is necessary for applicants to have GST certificates, issued in the name of the business.

Q: Is there provision for family pension?

Ans: Yes. The main beneficiary can nominate the spouse to get the family pension.

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