In a significant move to provide financial security to India’s traditional workforce, the Government of India has launched the PM Vishwakarma Pension Scheme under the broader PM Vishwakarma Yojana. This welfare initiative guarantees a monthly pension of ₹3,000 after the age of 60 to eligible traditional artisans and craftsmen, bringing much-needed relief to workers in the unorganized sector.
Understanding the PM Vishwakarma Pension Scheme
The PM Vishwakarma Pension Scheme is designed specifically to uplift traditional craftsmen, artisans, and workers in informal sectors by providing them with old-age financial security. This pension plan acknowledges the significant contributions of these skilled workers and aims to protect their financial future.
Key Features of the Scheme
- Guaranteed pension of ₹3,000 per month after reaching 60 years of age
- Co-contribution model where both the central government and workers contribute equally
- Covers 18 traditional trades including carpentry, blacksmithing, pottery, and more
- User-friendly registration with biometric authentication
- Managed by the Ministry of Micro, Small and Medium Enterprises (MSME)
- Tax-free pension amounts for beneficiaries
Eligibility Criteria: Who Can Apply?
To qualify for the PM Vishwakarma Pension Scheme and receive the guaranteed ₹3,000 monthly pension, applicants must meet the following criteria:
- Must be an Indian citizen
- Age between 18 to 40 years at the time of enrollment
- Should be practicing one of the 18 notified traditional trades
- Must not be a taxpayer
- Should have an active Jan Dhan or regular bank account
- Aadhaar and mobile number must be linked
- Should not be covered under any other statutory social security scheme
18 Traditional Crafts Covered Under the Scheme
The scheme specifically targets traditional artisans and craftspeople who practice age-old trades. Here’s a comprehensive list of eligible professions:
| S.No | Traditional Craft or Trade | Description |
|---|---|---|
| 1 | Carpenter | Woodwork and furniture making |
| 2 | Blacksmith | Metal work, tools, and equipment |
| 3 | Goldsmith | Jewelry making and metal crafting |
| 4 | Potter | Earthenware and clay items |
| 5 | Cobbler | Footwear repair and creation |
| 6 | Barber | Haircutting and grooming services |
| 7 | Tailor | Stitching and sewing services |
| 8 | Washerman (Dhobi) | Laundry and ironing services |
| 9 | Mason | Construction and stonework |
| 10 | Basket/Mat Weaver | Creating products from natural fibers |
| 11 | Vishwakarma (Ironsmith) | Tool making and metal crafting |
| 12 | Stone Breaker | Stone processing for construction |
| 13 | Locksmith | Lock and key services |
| 14 | Sculptor | Creating artworks from stone/wood |
| 15 | Toy Maker | Traditional toy crafting |
| 16 | Fisher-folk | Traditional fishing activities |
| 17 | Leather Worker | Products made from animal hide |
| 18 | Garland Maker | Creating flower arrangements |
Financial Structure: Contribution Details
The PM Vishwakarma Pension Scheme operates on a co-contribution principle where both the beneficiary and the government contribute equal amounts monthly. The contribution amount varies based on the age of entry:
| Age of Entry | Monthly Contribution by Worker | Govt Contribution | Total Monthly Contribution | Pension Amount After 60 |
|---|---|---|---|---|
| 18 years | ₹55 | ₹55 | ₹110 | ₹3,000 per month |
| 20 years | ₹73 | ₹73 | ₹146 | ₹3,000 per month |
| 25 years | ₹100 | ₹100 | ₹200 | ₹3,000 per month |
| 30 years | ₹150 | ₹150 | ₹300 | ₹3,000 per month |
| 35 years | ₹210 | ₹210 | ₹420 | ₹3,000 per month |
| 40 years | ₹289 | ₹289 | ₹578 | ₹3,000 per month |
Note: The contributions are automatically debited from the beneficiary’s bank account on a monthly basis, ensuring seamless payment collection.
Application Process: Step-by-Step Guide
Eligible beneficiaries can follow these steps to apply for the PM Vishwakarma Pension Scheme:
- Visit the official portal – Access the PM Vishwakarma Yojana website or visit your nearest Common Service Centre (CSC)
- Register – Complete the initial registration using your Aadhaar-linked mobile number
- Fill personal details – Enter your personal information, bank details, and occupational information
- Document submission – Upload all required documents as per the checklist
- Biometric verification – Complete biometric authentication at a designated CSC
- Approval and enrollment – Wait for verification and approval of your application
- Contribution initiation – Begin making monthly contributions once approved
Documents Required for Registration
To complete the application process successfully, keep the following documents ready:
- Aadhaar card (linked with mobile number)
- Bank passbook or account details (preferably Jan Dhan account)
- Birth certificate or valid age proof
- Caste certificate (if applicable)
- Proof of profession (certificate or letter from local panchayat/municipality)
- Recent passport-size photograph
- Income declaration (self-certification format available on the portal)
Key Benefits: Why You Should Consider This Scheme
The PM Vishwakarma Pension Scheme offers several advantages for traditional artisans:
- Financial security through guaranteed pension of ₹3,000 per month after retirement
- Equal government contribution matches your investment amount
- Tax-free benefits with no income tax liability on the pension amount
- Financial dignity in old age without dependence on family members
- Transparent process with direct benefit transfers to bank accounts
- Flexible exit options in case of emergencies (with specific conditions)
- Simple enrollment with minimal documentation
- Digital empowerment through formal banking and digital identity
Comparison with Other Pension Schemes
To help you understand how this scheme compares with other government pension initiatives:
| Scheme Name | Monthly Pension | Age of Entry | Government Contribution | Target Beneficiaries |
|---|---|---|---|---|
| PM Vishwakarma Yojana | ₹3,000 fixed | 18-40 yrs | Equal match (50%) | Traditional Artisans |
| Atal Pension Yojana (APY) | ₹1,000–₹5,000 | 18-40 yrs | Partial (for specific period) | All citizens |
| National Pension Scheme (NPS) | Market-linked (variable) | 18-65 yrs | Partial (for govt employees) | Salaried/Private sector |
| Indira Gandhi Old Age Pension | ₹200–₹500 | 60+ yrs | Full (100%) | BPL Elderly Citizens |
| PM Shram Yogi Maandhan | ₹3,000 fixed | 18-40 yrs | Equal match (50%) | Unorganized workers |
Why You Should Apply Immediately
There are compelling reasons not to delay your application:
- Lower contribution amount for early enrollees – the younger you join, the less you pay monthly
- Limited enrollment period – government schemes often have budget constraints
- Longer investment horizon yields better returns in the long run
- Rare opportunity for informal sector workers to access formal pension benefits
- Protection against inflation through guaranteed fixed pension amount
Important Considerations Before Applying
Before enrolling in the scheme, consider these important factors:
- Consistent contribution is necessary; missed payments may affect benefits
- Age verification is strict and based on Aadhaar records
- Trade verification requires proper documentation from local authorities
- Bank account must remain active throughout the contribution period
- Address and contact details must be regularly updated on the portal
Frequently Asked Questions (FAQs)
Q: Is the pension amount of ₹3,000 subject to change in the future? A: No, once enrolled, your pension amount is fixed at ₹3,000 per month regardless of inflation.
Q: What happens to the contributions if the beneficiary passes away before 60? A: The nominee will receive the accumulated corpus along with interest as per scheme guidelines.
Q: Can I contribute annually instead of monthly? A: No, the scheme is designed for monthly contributions only to ensure regular savings habit.
Conclusion
The PM Vishwakarma Pension Scheme represents a significant step toward financial inclusion and social security for India’s traditional artisans and craftspeople. With its guaranteed pension structure, government co-contribution, and user-friendly design, it offers a golden opportunity for eligible workers to secure their retirement years.
For those belonging to the specified traditional trades, this scheme provides not just financial support but also recognition of their valuable contributions to India’s cultural and economic fabric. By enrolling early, beneficiaries can secure a dignified retirement with minimal monthly investment.
Don’t miss this opportunity to secure your financial future. Apply now before enrollment closes or budgetary allocations are exhausted. Visit your nearest Common Service Centre or the official PM Vishwakarma Yojana portal to begin your application process today.
Disclaimer: This article is intended for informational purposes only. Readers are advised to refer to the official government resources for the most up-to-date and accurate guidelines regarding the PM Vishwakarma Pension Scheme.