WHO'S ELIGIBLE
>> Traders and businessmen whose annual turnovers are below Rs 1.5 crore
ABOUT THE SCHEME
>> A voluntary and contributory pension scheme
>> It was announced in the first cabinet meeting of Modi's second stint
>> It entails payment of a monthly pension of a minimum of Rs 3000 on attaining the age of 60
PANAJI: Up to 20,000 small Goan traders and businessmen whose annual turnovers are below Rs 1.5 crore could fall within the eligibility criteria for the social security pension scheme announced by Prime Minister Narendra Modi's cabinet immediately after taking office for the second time. Sources in the Commercial Taxes department said between 16,000-20,000 businesses in Goa registered under the Goods and Services Tax (GST) regime, have turnovers in the sub-1.5 crore rupees range and will be eligible for the scheme.
A voluntary and contributory pension scheme, it was announced in the first cabinet meeting of Modi's second stint. It entails payment of a monthly pension of a minimum of Rs 3000 on attaining the age of 60.
It is voluntary with an entry age group of 18-40 years with the Centre contributing an equivalent amount as that contributed by the member.
A similar pension scheme for farmers will see at least 30,000 from Goa, who have registered themselves under the Krishi Card scheme, eligible for it. The benefits under the scheme for farmers also include a month pension of a minimum of Rs 3000 on attaining the age of 60 years.
On the death of the beneficiary, both the schemes provide for payment of half the pension to the spouse as family pension.
