Swavalamban

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Swavalamban Yojana seeks to provide pension scheme to the unorganised sector in India. It will be applicable to all citizens in the unorganised sector who join the National Pension System (NPS) administered by the Pension Fund Regulatory and Development Authority (PFRDA) Act 2013.[1][2]

Under the scheme, Government will contribute Rs. 1000 per year to each NPS account opened in the year 2010-11 and for the next three years, that is, 2011-12, 2012-13 and 2013-14. The benefit will be available only to persons who join the NPS with a minimum contribution of Rs. 1,000 and maximum contribution of Rs. 12,000 per annum.

The scheme was announced by the Finance Minister in Budget 2010-11. It will be funded by grants from the Government of India.

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